Post Utme Futo 2024 Accounting Question 33

Practice objective / multiple choice question 33 from the 2024 Post Utme Futo Accounting examination.

Post Utme Futo 2024 Accounting Objective / Multiple Choice

Question 33 POST_UTME_FUTO • 2024 • ACCOUNTING • objective

A company's trial balance shows an error of ₦5,000 in the accounts payable account. The error is due to an omission of a transaction. Prepare the necessary journal entry to rectify the error.

A. Debit Accounts Payable ₦5,000, Credit Purchases ₦5,000

Correct Answer B. Debit Purchases ₦5,000, Credit Accounts Payable ₦5,000

C. Debit Accounts Payable ₦5,000, Credit Sales ₦5,000

D. Debit Sales ₦5,000, Credit Accounts Payable ₦5,000

Correct Answer

Correct Option:

Debit Purchases ₦5,000, Credit Accounts Payable ₦5,000

This is Post Utme Futo 2024 Accounting Question 33. It is one of the objective questions from the 2024 Post Utme Futo Accounting examination.

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