Post Utme Lead City University 2019 Accounting Question 13

Practice objective / multiple choice question 13 from the 2019 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2019 Accounting Objective / Multiple Choice
Question 13 POST_UTME_LEAD_CITY_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance showed a discrepancy of ₥ 1,000. The company's accountant discovered that the discrepancy was due to an error in the recording of a transaction. Prepare the necessary journal entry to correct the error.

Answer Options

Correct Answer A. Debit Cash ₥ 1,000, Credit Bank ₥ 1,000
B. Debit Bank ₥ 1,000, Credit Cash ₥ 1,000
C. Debit Bank ₥ 1,000, Credit Profit and Loss ₥ 1,000
D. Debit Profit and Loss ₥ 1,000, Credit Bank ₥ 1,000
Correct Answer
A
Correct Option:
Debit Cash ₥ 1,000, Credit Bank ₥ 1,000

About This Question

This is Post Utme Lead City University 2019 Accounting Question 13. It is one of the objective questions from the 2019 Post Utme Lead City University Accounting examination.

View More Post Utme Lead City University 2019 Accounting Questions More Post Utme Lead City University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support