Post Utme Aaua 2023 Accounting Question 39

Practice objective / multiple choice question 39 from the 2023 Post Utme Aaua Accounting examination.

Post Utme Aaua 2023 Accounting Objective / Multiple Choice
Question 39 POST_UTME_AAUA • 2023 • ACCOUNTING • objective

A company prepares a trial balance as follows: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | ₦0 | | Accounts Payable | ₦0 | ₦15,000 | | Sales | ₦0 | ₦20,000 | | Cost of Goods Sold | ₦0 | ₦15,000 | | Net Income | ₦0 | ₦5,000 | Identify the error in the trial balance.

Answer Options

A. Cash has a debit balance of ₦10,000
B. Accounts Payable has a credit balance of ₦15,000
Correct Answer C. Sales has a credit balance of ₦20,000
D. Cost of Goods Sold has a debit balance of ₦15,000
Correct Answer
C
Correct Option:
Sales has a credit balance of ₦20,000

About This Question

This is Post Utme Aaua 2023 Accounting Question 39. It is one of the objective questions from the 2023 Post Utme Aaua Accounting examination.

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