Post Utme Pan Atlantic University 2019 Accounting Question 31

Practice objective / multiple choice question 31 from the 2019 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2019 Accounting Objective / Multiple Choice
Question 31 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance shows an error of ₦1,500 in the debit side of the account 'Rent Received'. The correct amount is ₦3,000. What is the effect of this error on the company's net profit?

Answer Options

A. ₦1,500 increase in net profit
Correct Answer B. ₦1,500 decrease in net profit
C. ₦3,000 increase in net profit
D. ₦3,000 decrease in net profit
Correct Answer
B
Correct Option:
₦1,500 decrease in net profit

About This Question

This is Post Utme Pan Atlantic University 2019 Accounting Question 31. It is one of the objective questions from the 2019 Post Utme Pan Atlantic University Accounting examination.

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