Post Utme Unilag 2020 Accounting Question 31

Practice objective / multiple choice question 31 from the 2020 Post Utme Unilag Accounting examination.

Post Utme Unilag 2020 Accounting Objective / Multiple Choice
Question 31 POST_UTME_UNILAG • 2020 • ACCOUNTING • objective

A company's trial balance shows a discrepancy of ₦1,500. The accountant suspects that the error occurred in the ledger accounts. Which of the following steps should be taken first?

Answer Options

A. Verify the trial balance by re-computing the totals
Correct Answer B. Check the ledger accounts for any errors or omissions
C. Reconcile the bank statement with the company's records
D. Prepare a new trial balance from the corrected ledger accounts
Correct Answer
B
Correct Option:
Check the ledger accounts for any errors or omissions

About This Question

This is Post Utme Unilag 2020 Accounting Question 31. It is one of the objective questions from the 2020 Post Utme Unilag Accounting examination.

View More Post Utme Unilag 2020 Accounting Questions More Post Utme Unilag Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support