Post Utme Uniosun 2018 Accounting Question 22

Practice objective / multiple choice question 22 from the 2018 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2018 Accounting Objective / Multiple Choice
Question 22 POST_UTME_UNIOSUN • 2018 • ACCOUNTING • objective

A company uses a self-balancing ledger to record its transactions. The ledger shows a debit balance of ₦60,000. The trial balance shows a credit balance of ₦65,000. What is the correct explanation for the difference?

Answer Options

A. The company has an outstanding invoice of ₦5,000.
B. The company has an outstanding payment of ₦5,000.
Correct Answer C. The company has an error in its ledger of ₦5,000.
D. The company has an error in its trial balance of ₦5,000.
Correct Answer
C
Correct Option:
The company has an error in its ledger of ₦5,000.

About This Question

This is Post Utme Uniosun 2018 Accounting Question 22. It is one of the objective questions from the 2018 Post Utme Uniosun Accounting examination.

View More Post Utme Uniosun 2018 Accounting Questions More Post Utme Uniosun 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