Post Utme Noun 2017 Accounting Question 19

Practice objective / multiple choice question 19 from the 2017 Post Utme Noun Accounting examination.

Post Utme Noun 2017 Accounting Objective / Multiple Choice
Question 19 POST_UTME_NOUN • 2017 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦120,000 in the account 'Accrued Expenses' but the ledger account shows a credit balance of ₦80,000. What is the correct treatment for this error?

Answer Options

A. Debit the Accrued Expenses account by ₦40,000
Correct Answer B. Credit the Accrued Expenses account by ₦40,000
C. Debit the Accrued Expenses account by ₦80,000
D. Credit the Accrued Expenses account by ₦120,000
Correct Answer
B
Correct Option:
Credit the Accrued Expenses account by ₦40,000

About This Question

This is Post Utme Noun 2017 Accounting Question 19. It is one of the objective questions from the 2017 Post Utme Noun Accounting examination.

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