Post Utme Aaua 2022 Accounting Question 37

Practice objective / multiple choice question 37 from the 2022 Post Utme Aaua Accounting examination.

Post Utme Aaua 2022 Accounting Objective / Multiple Choice
Question 37 POST_UTME_AAUA • 2022 • ACCOUNTING • objective

A company prepares its trial balance as follows: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦100,000 | ₦0 | | Accounts Payable | ₦0 | ₦50,000 | | Sales Revenue | ₦0 | ₦200,000 | | Cost of Goods Sold | ₦0 | ₦150,000 | | Net Income | ₦0 | ₦50,000 | | Total | ₦100,000 | ₦450,000 | Identify the error in the trial balance.

Answer Options

Correct Answer A. The debit and credit columns are not balanced.
B. The net income is not correctly calculated.
C. The accounts payable is not correctly recorded.
D. The sales revenue is not correctly recorded.
Correct Answer
A
Correct Option:
The debit and credit columns are not balanced.

About This Question

This is Post Utme Aaua 2022 Accounting Question 37. It is one of the objective questions from the 2022 Post Utme Aaua Accounting examination.

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