Post Utme Eksu 2022 Accounting Question 41

Practice objective / multiple choice question 41 from the 2022 Post Utme Eksu Accounting examination.

Post Utme Eksu 2022 Accounting Objective / Multiple Choice

Question 41 POST_UTME_EKSU • 2022 • ACCOUNTING • objective

A company's trial balance shows a credit balance of ₦5,000 in the account 'Accrued Income'. Prepare the journal entry to correct this error.

A. Debit Accrued Income ₦5,000, Credit Accrued Expenses ₦5,000

Correct Answer B. Debit Accrued Expenses ₦5,000, Credit Accrued Income ₦5,000

C. Debit Accrued Income ₦5,000, Credit Cash ₦5,000

D. Debit Cash ₦5,000, Credit Accrued Income ₦5,000

Correct Answer

Correct Option:

Debit Accrued Expenses ₦5,000, Credit Accrued Income ₦5,000

This is Post Utme Eksu 2022 Accounting Question 41. It is one of the objective questions from the 2022 Post Utme Eksu Accounting examination.

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