Post Utme Madonna University 2024 Accounting Question 38

Practice objective / multiple choice question 38 from the 2024 Post Utme Madonna University Accounting examination.

Post Utme Madonna University 2024 Accounting Objective / Multiple Choice
Question 38 POST_UTME_MADONNA_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's trial balance showed an error of ₦5,000 due to an incorrect posting of a debit entry. The error was discovered during the preparation of the balance sheet. What is the effect of this error on the balance sheet?

Answer Options

Correct Answer A. The error will result in an overstatement of assets.
B. The error will result in an understatement of liabilities.
C. The error will not affect the balance sheet.
D. The error will result in an overstatement of liabilities.
Correct Answer
A
Correct Option:
The error will result in an overstatement of assets.

About This Question

This is Post Utme Madonna University 2024 Accounting Question 38. It is one of the objective questions from the 2024 Post Utme Madonna University Accounting examination.

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