Post Utme Caleb University 2024 Accounting Question 9

Practice objective / multiple choice question 9 from the 2024 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2024 Accounting Objective / Multiple Choice
Question 9 POST_UTME_CALEB_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's trial balance showed a difference of ₦2,000 between the debit and credit balances. The difference was due to an error in posting a transaction of ₦1,000. What will be the effect on the company's net profit?

Answer Options

A. The net profit will be reduced by ₦1,000.
Correct Answer B. The net profit will be increased by ₦1,000.
C. The net profit will be reduced by ₦2,000.
D. The net profit will be increased by ₦2,000.
Correct Answer
B
Correct Option:
The net profit will be increased by ₦1,000.

About This Question

This is Post Utme Caleb University 2024 Accounting Question 9. It is one of the objective questions from the 2024 Post Utme Caleb University Accounting examination.

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