Post Utme Caleb University 2023 Accounting Question 20

Practice objective / multiple choice question 20 from the 2023 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2023 Accounting Objective / Multiple Choice
Question 20 POST_UTME_CALEB_UNIVERSITY • 2023 • ACCOUNTING • objective

A company has the following trial balance: Debit ₦80,000, Credit ₦60,000. What is the correct treatment of this account?

Answer Options

A. Debit the account and credit the account 'Accrued Expenses'
Correct Answer B. Credit the account and debit the account 'Accrued Expenses'
C. Debit the account and credit the account 'Cash'
D. Credit the account and debit the account 'Rent Paid'
Correct Answer
B
Correct Option:
Credit the account and debit the account 'Accrued Expenses'

About This Question

This is Post Utme Caleb University 2023 Accounting Question 20. It is one of the objective questions from the 2023 Post Utme Caleb University Accounting examination.

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