Post Utme Osustech 2017 Accounting Question 20

Practice objective / multiple choice question 20 from the 2017 Post Utme Osustech Accounting examination.

Post Utme Osustech 2017 Accounting Objective / Multiple Choice
Question 20 POST_UTME_OSUSTECH • 2017 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦25,000 in the account 'Accrued Expenses'. What is the correct treatment of this account in the preparation of the financial statements?

Answer Options

A. Debit the Accrued Expenses account and credit the Accrued Expenses Expense account.
B. Credit the Accrued Expenses account and debit the Accrued Expenses Expense account.
Correct Answer C. Debit the Accrued Expenses Expense account and credit the Accrued Expenses account.
D. Credit the Accrued Expenses account and debit the Accrued Expenses account.
Correct Answer
C
Correct Option:
Debit the Accrued Expenses Expense account and credit the Accrued Expenses account.

About This Question

This is Post Utme Osustech 2017 Accounting Question 20. It is one of the objective questions from the 2017 Post Utme Osustech Accounting examination.

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