Post Utme Noun 2023 Accounting Question 13

Practice objective / multiple choice question 13 from the 2023 Post Utme Noun Accounting examination.

Post Utme Noun 2023 Accounting Objective / Multiple Choice
Question 13 POST_UTME_NOUN • 2023 • ACCOUNTING • objective

A company's trial balance shows the following balances: ₦50,000 debit to Sales and ₦60,000 credit to Sales. What is the correct journal entry to rectify this error?

Answer Options

A. ₦10,000 debit to Sales and ₦10,000 credit to Sales
Correct Answer B. ₦10,000 debit to Sales and ₦10,000 credit to Profit or Loss
C. ₦10,000 debit to Profit or Loss and ₦10,000 credit to Sales
D. ₦10,000 debit to Sales and ₦10,000 credit to Cash
Correct Answer
B
Correct Option:
₦10,000 debit to Sales and ₦10,000 credit to Profit or Loss

About This Question

This is Post Utme Noun 2023 Accounting Question 13. It is one of the objective questions from the 2023 Post Utme Noun Accounting examination.

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