Post Utme Osustech 2021 Accounting Question 10

Practice objective / multiple choice question 10 from the 2021 Post Utme Osustech Accounting examination.

Post Utme Osustech 2021 Accounting Objective / Multiple Choice
Question 10 POST_UTME_OSUSTECH • 2021 • ACCOUNTING • objective

A company has a trial balance that shows a debit balance of ₦20,000 in the account 'Office Expenses'. However, the company's accounting records show that the actual office expenses for the year were ₦15,000. What is the correct treatment for the discrepancy?

Answer Options

Correct Answer A. Debit the Office Expenses account by ₦5,000
B. Credit the Office Expenses account by ₦5,000
C. Debit the Office Expenses account by ₦10,000
D. Credit the Office Expenses account by ₦10,000
Correct Answer
A
Correct Option:
Debit the Office Expenses account by ₦5,000

About This Question

This is Post Utme Osustech 2021 Accounting Question 10. It is one of the objective questions from the 2021 Post Utme Osustech Accounting examination.

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