Post Utme Unn 2019 Accounting Question 23

Practice objective / multiple choice question 23 from the 2019 Post Utme Unn Accounting examination.

Post Utme Unn 2019 Accounting Objective / Multiple Choice
Question 23 POST_UTME_UNN • 2019 • ACCOUNTING • objective

A company uses a self-balancing ledger system. The ledger shows a debit balance of ₦30,000 in the 'Accounts Payable' 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 accounts payable for the current period.
Correct Answer B. The company has recorded the accounts payable twice in the current period.
C. The company has not yet paid the accounts payable for the current period.
D. The company has recorded the accounts payable incorrectly.
Correct Answer
B
Correct Option:
The company has recorded the accounts payable twice in the current period.

About This Question

This is Post Utme Unn 2019 Accounting Question 23. It is one of the objective questions from the 2019 Post Utme Unn Accounting examination.

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