Post Utme Ksu 2020 Accounting Question 19

Practice objective / multiple choice question 19 from the 2020 Post Utme Ksu Accounting examination.

Post Utme Ksu 2020 Accounting Objective / Multiple Choice
Question 19 POST_UTME_KSU • 2020 • ACCOUNTING • objective

A company's trial balance shows a credit balance of ₦20,000 in the account 'Dividends'. What is the correct treatment of this account in the preparation of the company's financial statements?

Answer Options

A. Debit the account in the income statement
Correct Answer B. Credit the account in the income statement
C. Debit the account in the balance sheet
D. Credit the account in the balance sheet
Correct Answer
B
Correct Option:
Credit the account in the income statement

About This Question

This is Post Utme Ksu 2020 Accounting Question 19. It is one of the objective questions from the 2020 Post Utme Ksu Accounting examination.

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