Post Utme Madonna University 2020 Accounting Question 29

Practice objective / multiple choice question 29 from the 2020 Post Utme Madonna University Accounting examination.

Post Utme Madonna University 2020 Accounting Objective / Multiple Choice
Question 29 POST_UTME_MADONNA_UNIVERSITY • 2020 • ACCOUNTING • objective

A company has an incomplete record of its transactions. The following information is available: Debit balance of ₦5,000, Credit balance of ₦3,000, and a single entry of ₦2,000. What is the net effect on the accounts?

Answer Options

Correct Answer A. ₦2,000 credit
B. ₦2,000 debit
C. ₦1,000 credit
D. ₦1,000 debit
Correct Answer
A
Correct Option:
₦2,000 credit

About This Question

This is Post Utme Madonna University 2020 Accounting Question 29. It is one of the objective questions from the 2020 Post Utme Madonna University Accounting examination.

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