Post Utme Futa 2021 Accounting Question 11

Practice objective / multiple choice question 11 from the 2021 Post Utme Futa Accounting examination.

Post Utme Futa 2021 Accounting Objective / Multiple Choice
Question 11 POST_UTME_FUTA • 2021 • ACCOUNTING • objective

A company's trial balance shows an error of ₦5,000 due to an incorrect posting in the ledger. The error is discovered during the preparation of the balance sheet. What is the correct procedure to rectify this error?

Answer Options

A. Correct the error by making an adjusting entry in the ledger.
Correct Answer B. Correct the error by making an adjusting entry in the journal.
C. Correct the error by making an adjusting entry in the trial balance.
D. Correct the error by making an adjusting entry in the financial statements.
Correct Answer
B
Correct Option:
Correct the error by making an adjusting entry in the journal.

About This Question

This is Post Utme Futa 2021 Accounting Question 11. It is one of the objective questions from the 2021 Post Utme Futa Accounting examination.

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