Post Utme Wellspring University 2022 Accounting Question 9

Practice objective / multiple choice question 9 from the 2022 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2022 Accounting Objective / Multiple Choice
Question 9 POST_UTME_WELLSPRING_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's trading account shows a profit of ₦100,000. The company's profit and loss account shows a net profit of ₦120,000. What is the correct explanation for the difference?

Answer Options

A. The company has made an error in recording the trading account.
B. The company has made an error in recording the profit and loss account.
C. The company has made an error in recording the depreciation.
Correct Answer D. The company has made an error in recording the interest on loans.
Correct Answer
D
Correct Option:
The company has made an error in recording the interest on loans.

About This Question

This is Post Utme Wellspring University 2022 Accounting Question 9. It is one of the objective questions from the 2022 Post Utme Wellspring University Accounting examination.

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