Post Utme Unilag 2022 Accounting Question 3

Practice objective / multiple choice question 3 from the 2022 Post Utme Unilag Accounting examination.

Post Utme Unilag 2022 Accounting Objective / Multiple Choice
Question 3 POST_UTME_UNILAG • 2022 • ACCOUNTING • objective

A company's balance sheet shows a current ratio of 2:1. However, the company's current assets are ₦200,000 and its current liabilities are ₦100,000. What is the correct explanation for this discrepancy?

Answer Options

A. The company has not yet recorded the sale of its current assets.
B. The company has not yet recorded the purchase of its current assets.
Correct Answer C. The company has not yet recorded the payment of its current liabilities.
D. The company has not yet recorded the receipt of its current liabilities.
Correct Answer
C
Correct Option:
The company has not yet recorded the payment of its current liabilities.

About This Question

This is Post Utme Unilag 2022 Accounting Question 3. It is one of the objective questions from the 2022 Post Utme Unilag Accounting examination.

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