Post Utme Oau 2023 Accounting Question 9

Practice objective / multiple choice question 9 from the 2023 Post Utme Oau Accounting examination.

Post Utme Oau 2023 Accounting Objective / Multiple Choice
Question 9 POST_UTME_OAU • 2023 • ACCOUNTING • objective

A firm's balance sheet shows an error of ₦10,000 due to an incorrect posting of an account. The error is discovered during the preparation of the income statement. What is the effect of this error on the income statement?

Answer Options

A. The error will result in an overstatement of revenue.
B. The error will result in an understatement of expenses.
C. The error will not affect the income statement.
Correct Answer D. The error will result in an overstatement of expenses.
Correct Answer
D
Correct Option:
The error will result in an overstatement of expenses.

About This Question

This is Post Utme Oau 2023 Accounting Question 9. It is one of the objective questions from the 2023 Post Utme Oau Accounting examination.

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