Post Utme Pan Atlantic University 2019 Accounting Question 34

Practice objective / multiple choice question 34 from the 2019 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2019 Accounting Objective / Multiple Choice
Question 34 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance shows an error of ₦2,000 in the credit side of the account 'Salaries Paid'. The correct amount is ₦10,000. What is the effect of this error on the company's net profit?

Answer Options

A. ₦2,000 increase in net profit
Correct Answer B. ₦2,000 decrease in net profit
C. ₦10,000 increase in net profit
D. ₦10,000 decrease in net profit
Correct Answer
B
Correct Option:
₦2,000 decrease in net profit

About This Question

This is Post Utme Pan Atlantic University 2019 Accounting Question 34. It is one of the objective questions from the 2019 Post Utme Pan Atlantic University Accounting examination.

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