Post Utme Esut 2025 Accounting Question 38

Practice objective / multiple choice question 38 from the 2025 Post Utme Esut Accounting examination.

Post Utme Esut 2025 Accounting Objective / Multiple Choice
Question 38 POST_UTME_ESUT • 2025 • ACCOUNTING • objective

A company prepares its trial balance and discovers an error in the debit balance of the accounts payable account. The correct balance should be ₦50,000. What is the effect of this error on the balance sheet?

Answer Options

A. The error will increase the asset account and decrease the liability account.
B. The error will decrease the asset account and increase the liability account.
C. The error will have no effect on the balance sheet.
Correct Answer D. The error will increase the liability account and decrease the asset account.
Correct Answer
D
Correct Option:
The error will increase the liability account and decrease the asset account.

About This Question

This is Post Utme Esut 2025 Accounting Question 38. It is one of the objective questions from the 2025 Post Utme Esut Accounting examination.

View More Post Utme Esut 2025 Accounting Questions More Post Utme Esut Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support