Post Utme Futo 2018 Accounting Question 27

Practice objective / multiple choice question 27 from the 2018 Post Utme Futo Accounting examination.

Post Utme Futo 2018 Accounting Objective / Multiple Choice

Question 27 POST_UTME_FUTO • 2018 • ACCOUNTING • objective

A company uses a self-balancing ledger system. The ledger shows the following balances: Debit Balance: ₦20,000, Credit Balance: ₦30,000. What is the correct procedure to balance the ledger?

A. Debit the credit balance and credit the debit balance.

B. Credit the credit balance and debit the debit balance.

C. Adjust the debit balance to match the credit balance.

Correct Answer D. Prepare a trial balance to identify the differences between the debit and credit balances.

Correct Answer

Correct Option:

Prepare a trial balance to identify the differences between the debit and credit balances.

This is Post Utme Futo 2018 Accounting Question 27. It is one of the objective questions from the 2018 Post Utme Futo Accounting examination.

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