Post Utme Summit University 2021 Accounting Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Summit University Accounting examination.

Post Utme Summit University 2021 Accounting Objective / Multiple Choice
Question 21 POST_UTME_SUMMIT_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Office Equipment' account. However, the company's accountant has informed you that the company has not purchased any new office equipment during the year. What is the most likely explanation for the debit balance?

Answer Options

A. The company has sold some of its office equipment during the year.
Correct Answer B. The company has not recorded the depreciation of its office equipment during the year.
C. The company has not recorded the purchase of new office equipment during the year.
D. The company has not recorded the sale of some of its office equipment during the year.
Correct Answer
B
Correct Option:
The company has not recorded the depreciation of its office equipment during the year.

About This Question

This is Post Utme Summit University 2021 Accounting Question 21. It is one of the objective questions from the 2021 Post Utme Summit University Accounting examination.

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