Post Utme Bsu 2024 Accounting Question 13

Practice objective / multiple choice question 13 from the 2024 Post Utme Bsu Accounting examination.

Post Utme Bsu 2024 Accounting Objective / Multiple Choice
Question 13 POST_UTME_BSU • 2024 • ACCOUNTING • objective

A company uses the self-balancing ledger system to record its transactions. The ledger shows a debit balance of ₦10,000 in the account 'Sales'. However, the company's accounting records show that it has not made any sales. What is the correct treatment for this discrepancy?

Answer Options

A. Debit the 'Sales' account by ₦10,000 and credit the 'Sales Returns' account by ₦10,000.
Correct Answer B. Credit the 'Sales' account by ₦10,000 and debit the 'Sales Returns' account by ₦10,000.
C. Debit the 'Sales' account by ₦10,000 and credit the 'Cash' account by ₦10,000.
D. Credit the 'Sales' account by ₦10,000 and debit the 'Bank' account by ₦10,000.
Correct Answer
B
Correct Option:
Credit the 'Sales' account by ₦10,000 and debit the 'Sales Returns' account by ₦10,000.

About This Question

This is Post Utme Bsu 2024 Accounting Question 13. It is one of the objective questions from the 2024 Post Utme Bsu Accounting examination.

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