Post Utme Afe Babalola University 2025 Accounting Question 43

Practice objective / multiple choice question 43 from the 2025 Post Utme Afe Babalola University Accounting examination.

Post Utme Afe Babalola University 2025 Accounting Objective / Multiple Choice
Question 43 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2025 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash book shows a debit balance of ₦15,000. The company's trial balance shows a credit balance of ₦20,000. What is the correct journal entry to record the difference?

Answer Options

A. ₦5,000 debit to Profit and Loss Account
Correct Answer B. ₦5,000 credit to Profit and Loss Account
C. ₦5,000 debit to Cash Account
D. ₦5,000 credit to Cash Account
Correct Answer
B
Correct Option:
₦5,000 credit to Profit and Loss Account

About This Question

This is Post Utme Afe Babalola University 2025 Accounting Question 43. It is one of the objective questions from the 2025 Post Utme Afe Babalola University Accounting examination.

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