Post Utme Coal City University 2022 Accounting Question 5

Practice objective / multiple choice question 5 from the 2022 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2022 Accounting Objective / Multiple Choice
Question 5 POST_UTME_COAL_CITY_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's trial balance showed an error of ₦10,000 in the balance of the 'Purchases' account. The correct balance should be ₦50,000. What is the effect of this error on the company's net profit?

Answer Options

Correct Answer A. ₦10,000 decrease
B. ₦10,000 increase
C. ₦20,000 decrease
D. ₦20,000 increase
Correct Answer
A
Correct Option:
₦10,000 decrease

About This Question

This is Post Utme Coal City University 2022 Accounting Question 5. It is one of the objective questions from the 2022 Post Utme Coal City University Accounting examination.

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