Post Utme Futa 2025 Accounting Question 33

Practice objective / multiple choice question 33 from the 2025 Post Utme Futa Accounting examination.

Post Utme Futa 2025 Accounting Objective / Multiple Choice
Question 33 POST_UTME_FUTA • 2025 • ACCOUNTING • objective

A company has the following trial balance: Debit: ₦100,000; Credit: ₦120,000. What is the correct journal entry to correct the error?

Answer Options

Correct Answer A. Debit Profit and Loss ₦20,000, Credit Debit ₦20,000
B. Debit Profit and Loss ₦20,000, Credit Credit ₦20,000
C. Debit Debit ₦20,000, Credit Profit and Loss ₦20,000
D. Debit Credit ₦20,000, Credit Profit and Loss ₦20,000
Correct Answer
A
Correct Option:
Debit Profit and Loss ₦20,000, Credit Debit ₦20,000

About This Question

This is Post Utme Futa 2025 Accounting Question 33. It is one of the objective questions from the 2025 Post Utme Futa Accounting examination.

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