Post Utme Uniosun 2022 Accounting Question 12

Practice objective / multiple choice question 12 from the 2022 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2022 Accounting Objective / Multiple Choice
Question 12 POST_UTME_UNIOSUN • 2022 • ACCOUNTING • objective

A company prepares a trial balance on December 31, 2022. The trial balance shows a debit balance of ₦50,000 in the account 'Office Supplies.' However, the company's records show that the office supplies account has a credit balance of ₦20,000. What is the most likely reason for the difference?

Answer Options

A. The company has recorded a sale in the office supplies account that has not been recorded in the trial balance.
B. The company has recorded a purchase in the office supplies account that has not been recorded in the trial balance.
Correct Answer C. The company has made an error in recording a transaction in the office supplies account.
D. The company has outstanding office supplies that have not been recorded in the trial balance.
Correct Answer
C
Correct Option:
The company has made an error in recording a transaction in the office supplies account.

About This Question

This is Post Utme Uniosun 2022 Accounting Question 12. It is one of the objective questions from the 2022 Post Utme Uniosun Accounting examination.

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