Post Utme Futo 2020 Accounting Question 22

Practice objective / multiple choice question 22 from the 2020 Post Utme Futo Accounting examination.

Post Utme Futo 2020 Accounting Objective / Multiple Choice

Question 22 POST_UTME_FUTO • 2020 • ACCOUNTING • objective

A company's trial balance showed an error of ₦10,000 in the debit side of the purchases account. What is the effect on the profit and loss account?

A. Increase in profit

Correct Answer B. Decrease in profit

C. No effect on profit

D. Increase in loss

Correct Answer

Correct Option:

Decrease in profit

This is Post Utme Futo 2020 Accounting Question 22. It is one of the objective questions from the 2020 Post Utme Futo Accounting examination.

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