Post Utme Unn 2019 Accounting Question 21

Practice objective / multiple choice question 21 from the 2019 Post Utme Unn Accounting examination.

Post Utme Unn 2019 Accounting Objective / Multiple Choice
Question 21 POST_UTME_UNN • 2019 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦50,000 in the 'Rent Expense' account. However, the company's financial statements show a credit balance of ₦20,000 in the same account. What is the most likely reason for this discrepancy?

Answer Options

A. The company has not yet recorded the rent expense for the current period.
Correct Answer B. The company has recorded the rent expense twice in the current period.
C. The company has not yet paid the rent for the current period.
D. The company has recorded the rent expense incorrectly.
Correct Answer
B
Correct Option:
The company has recorded the rent expense twice in the current period.

About This Question

This is Post Utme Unn 2019 Accounting Question 21. It is one of the objective questions from the 2019 Post Utme Unn Accounting examination.

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