Post Utme Coal City University 2019 Accounting Question 2

Practice objective / multiple choice question 2 from the 2019 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2019 Accounting Objective / Multiple Choice

Question 2 POST_UTME_COAL_CITY_UNIVERSITY • 2019 • ACCOUNTING • objective

A firm's trial balance showed an error of ₦5,000 in the debit side of the accounts payable account. The correct balance is ₦25,000. What is the effect of this error on the net profit?

Answer Options

Correct Answer A. ₦5,000 increase

B. ₦5,000 decrease

C. ₦10,000 increase

D. ₦10,000 decrease

Correct Answer

Correct Option:

₦5,000 increase

About This Question

This is Post Utme Coal City University 2019 Accounting Question 2. It is one of the objective questions from the 2019 Post Utme Coal City University Accounting examination.

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