Post Utme Unilorin 2018 Accounting Question 28

Practice objective / multiple choice question 28 from the 2018 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2018 Accounting Objective / Multiple Choice
Question 28 POST_UTME_UNILORIN • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦50,000 in the 'Office Equipment' account. However, the company's balance sheet shows a credit balance of ₦20,000 in the same account. What is the correct explanation for the discrepancy?

Answer Options

Correct Answer A. The company has not recorded a depreciation of ₦30,000.
B. The company has not recorded a cash receipt of ₦30,000.
C. The company has not recorded a cash payment of ₦10,000.
D. The company has not recorded a bank transfer of ₦10,000.
Correct Answer
A
Correct Option:
The company has not recorded a depreciation of ₦30,000.

About This Question

This is Post Utme Unilorin 2018 Accounting Question 28. It is one of the objective questions from the 2018 Post Utme Unilorin Accounting examination.

View More Post Utme Unilorin 2018 Accounting Questions More Post Utme Unilorin 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