Post Utme Ksu 2022 Accounting Question 9

Practice objective / multiple choice question 9 from the 2022 Post Utme Ksu Accounting examination.

Post Utme Ksu 2022 Accounting Objective / Multiple Choice
Question 9 POST_UTME_KSU • 2022 • ACCOUNTING • objective

A company has a control account for its cash account. The control account shows a balance of ₦50,000. The ledger account for cash shows a balance of ₦60,000. What is the correct journal entry to rectify this error?

Answer Options

Correct Answer A. Debit Cash ₦10,000, Credit Control Account ₦10,000
B. Debit Control Account ₦10,000, Credit Cash ₦10,000
C. Debit Cash ₦10,000, Credit Control Account ₦10,000 and reverse the entry after 6 months
D. Debit Control Account ₦10,000, Credit Cash ₦10,000 and reverse the entry after 1 year
Correct Answer
A
Correct Option:
Debit Cash ₦10,000, Credit Control Account ₦10,000

About This Question

This is Post Utme Ksu 2022 Accounting Question 9. It is one of the objective questions from the 2022 Post Utme Ksu Accounting examination.

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