Post Utme Mountain Top University 2024 Accounting Question 40

Practice objective / multiple choice question 40 from the 2024 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2024 Accounting Objective / Multiple Choice
Question 40 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's trial balance as at 31 Dec shows the following: | Account | Debit | Credit | | --- | --- | --- | | Sales | ₦100,000 | | | Purchases | | ₦120,000 | | Wages | ₦20,000 | | | Rent | | ₦30,000 | | Capital | | ₦150,000 | Identify the error in the trial balance and state the correct balance.

Answer Options

A. Sales = ₦80,000
Correct Answer B. Purchases = ₦100,000
C. Wages = ₦30,000
D. Rent = ₦20,000
Correct Answer
B
Correct Option:
Purchases = ₦100,000

About This Question

This is Post Utme Mountain Top University 2024 Accounting Question 40. It is one of the objective questions from the 2024 Post Utme Mountain Top University Accounting examination.

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