Post Utme Unilag 2022 Accounting Question 2

Practice objective / multiple choice question 2 from the 2022 Post Utme Unilag Accounting examination.

Post Utme Unilag 2022 Accounting Objective / Multiple Choice
Question 2 POST_UTME_UNILAG • 2022 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦50,000 in the account 'Office Equipment'. However, the company's assets include a piece of equipment worth ₦60,000. What is the correct explanation for this discrepancy?

Answer Options

A. The company has not yet depreciated the equipment.
B. The company has not yet recorded the purchase of the equipment.
C. The company has not yet recorded the sale of the equipment.
Correct Answer D. The company has not yet recorded the depreciation of the equipment.
Correct Answer
D
Correct Option:
The company has not yet recorded the depreciation of the equipment.

About This Question

This is Post Utme Unilag 2022 Accounting Question 2. It is one of the objective questions from the 2022 Post Utme Unilag Accounting examination.

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