Post Utme Christopher University 2020 Accounting Question 16

Practice objective / multiple choice question 16 from the 2020 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2020 Accounting Objective / Multiple Choice
Question 16 POST_UTME_CHRISTOPHER_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance shows an error of ₦5,000 due to an incorrect posting of a transaction. The error is discovered during the preparation of the balance sheet. What is the correct treatment of this error?

Answer Options

Correct Answer A. ₦5,000 is debited to the error account.
B. ₦5,000 is credited to the error account.
C. ₦5,000 is ignored as it is a minor error.
D. ₦5,000 is posted to the profit and loss account.
Correct Answer
A
Correct Option:
₦5,000 is debited to the error account.

About This Question

This is Post Utme Christopher University 2020 Accounting Question 16. It is one of the objective questions from the 2020 Post Utme Christopher University Accounting examination.

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