Post Utme Unn 2022 Accounting Question 15

Practice objective / multiple choice question 15 from the 2022 Post Utme Unn Accounting examination.

Post Utme Unn 2022 Accounting Objective / Multiple Choice
Question 15 POST_UTME_UNN • 2022 • ACCOUNTING • objective

A company's trading account shows a profit of ₦100,000. However, the profit and loss account shows a loss of ₦50,000. What is the likely reason for the discrepancy?

Answer Options

Correct Answer A. The company has an error in its trading account.
B. The company has an error in its profit and loss account.
C. The company has an outstanding debt that has not been recorded.
D. The company has an asset that has not been recorded.
Correct Answer
A
Correct Option:
The company has an error in its trading account.

About This Question

This is Post Utme Unn 2022 Accounting Question 15. It is one of the objective questions from the 2022 Post Utme Unn Accounting examination.

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