Post Utme Lautech 2022 Accounting Question 22

Practice objective / multiple choice question 22 from the 2022 Post Utme Lautech Accounting examination.

Post Utme Lautech 2022 Accounting Objective / Multiple Choice
Question 22 POST_UTME_LAUTECH • 2022 • ACCOUNTING • objective

A company's trial balance shows an error of ₦10,000 due to an omission of a transaction. Prepare the necessary journal entry to correct the error.

Answer Options

A. Debit Cash ₦10,000, Credit Profit and Loss Account ₦10,000
Correct Answer B. Debit Profit and Loss Account ₦10,000, Credit Cash ₦10,000
C. Debit Profit and Loss Account ₦10,000, Credit Capital ₦10,000
D. Debit Capital ₦10,000, Credit Profit and Loss Account ₦10,000
Correct Answer
B
Correct Option:
Debit Profit and Loss Account ₦10,000, Credit Cash ₦10,000

About This Question

This is Post Utme Lautech 2022 Accounting Question 22. It is one of the objective questions from the 2022 Post Utme Lautech Accounting examination.

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