Post Utme Futo 2020 Accounting Question 2

Practice objective / multiple choice question 2 from the 2020 Post Utme Futo Accounting examination.

Post Utme Futo 2020 Accounting Objective / Multiple Choice
Question 2 POST_UTME_FUTO • 2020 • ACCOUNTING • objective

A company's trial balance showed an error of ₦5,000 due to an incorrect posting. The error was discovered and corrected. What is the effect on the company's net profit?

Answer Options

A. ₦5,000 increase
Correct Answer B. ₦5,000 decrease
C. No effect
D. ₦10,000 increase
Correct Answer
B
Correct Option:
₦5,000 decrease

About This Question

This is Post Utme Futo 2020 Accounting Question 2. It is one of the objective questions from the 2020 Post Utme Futo Accounting examination.

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