Post Utme Mountain Top University 2021 Accounting Question 33

Practice objective / multiple choice question 33 from the 2021 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2021 Accounting Objective / Multiple Choice
Question 33 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's trial balance showed an error of ₦1,000 in the debit side of the account. What is the effect of this error on the company's balance sheet?

Answer Options

A. Decrease in assets and decrease in liabilities
Correct Answer B. Decrease in assets and increase in liabilities
C. Increase in assets and decrease in liabilities
D. Increase in assets and increase in liabilities
Correct Answer
B
Correct Option:
Decrease in assets and increase in liabilities

About This Question

This is Post Utme Mountain Top University 2021 Accounting Question 33. It is one of the objective questions from the 2021 Post Utme Mountain Top University Accounting examination.

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