Post Utme Lasu 2019 Accounting Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Lasu Accounting examination.

Post Utme Lasu 2019 Accounting Objective / Multiple Choice
Question 1 POST_UTME_LASU • 2019 • ACCOUNTING • objective

Determine the correct journal entry to record the correction of an error in the trial balance of XYZ Ltd. The error arose from an incorrect posting of an account payable of ₦15,000 to an account receivable of ₦5,000.

Answer Options

A. Debit Cash ₦20,000, Credit Accounts Payable ₦20,000
B. Debit Accounts Receivable ₦5,000, Credit Cash ₦5,000
Correct Answer C. Debit Accounts Payable ₦15,000, Credit Accounts Receivable ₦15,000
D. Debit Cash ₦20,000, Credit Accounts Receivable ₦20,000
Correct Answer
C
Correct Option:
Debit Accounts Payable ₦15,000, Credit Accounts Receivable ₦15,000

About This Question

This is Post Utme Lasu 2019 Accounting Question 1. It is one of the objective questions from the 2019 Post Utme Lasu Accounting examination.

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