Post Utme Aaua 2020 Accounting Question 40

Practice objective / multiple choice question 40 from the 2020 Post Utme Aaua Accounting examination.

Post Utme Aaua 2020 Accounting Objective / Multiple Choice

Question 40 POST_UTME_AAUA • 2020 • ACCOUNTING • objective

A company has the following journal entry: Debit Sales Revenue ₦ 10,000, Credit Cost of Goods Sold ₦ 5,000. Prepare the journal entry to correct the error.

Correct Answer A. Debit Sales Revenue ₦ 5,000, Credit Cost of Goods Sold ₦ 10,000

B. Debit Sales Revenue ₦ 10,000, Credit Cost of Goods Sold ₦ 5,000

C. Debit Sales Revenue ₦ 15,000, Credit Cost of Goods Sold ₦ 10,000

D. Debit Sales Revenue ₦ 5,000, Credit Cost of Goods Sold ₦ 5,000

Correct Answer

Correct Option:

Debit Sales Revenue ₦ 5,000, Credit Cost of Goods Sold ₦ 10,000

This is Post Utme Aaua 2020 Accounting Question 40. It is one of the objective questions from the 2020 Post Utme Aaua Accounting examination.

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support