Post Utme Covenant University 2020 Accounting Question 19

Practice objective / multiple choice question 19 from the 2020 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2020 Accounting Objective / Multiple Choice
Question 19 POST_UTME_COVENANT_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's cash book as at 31st December, 2022 is as follows: | Date | Debit | Credit | | --- | --- | --- | | 1st January | ₦10,000 | ₦0 | | 15th January | ₦20,000 | ₦0 | | 31st December | ₦0 | ₦30,000 | The company's accountant has made an error in the cash book. Identify the error and correct it.

Answer Options

A. The error is in the 1st January entry. The debit balance should be ₦0.
B. The error is in the 15th January entry. The debit balance should be ₦0.
Correct Answer C. The error is in the 31st December entry. The credit balance should be ₦0.
D. The error is in the Cash account. The debit balance should be ₦0.
Correct Answer
C
Correct Option:
The error is in the 31st December entry. The credit balance should be ₦0.

About This Question

This is Post Utme Covenant University 2020 Accounting Question 19. It is one of the objective questions from the 2020 Post Utme Covenant University Accounting examination.

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