Post Utme Pan Atlantic University 2021 Accounting Question 25

Practice objective / multiple choice question 25 from the 2021 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2021 Accounting Objective / Multiple Choice
Question 25 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's trial balance as at 31st December 2022 is as follows: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦50,000 | ₦0 | | Accounts Payable | ₦0 | ₦50,000 | | Sales Revenue | ₦0 | ₦200,000 | | Cost of Goods Sold | ₦100,000 | ₦0 | | Net Income | ₦0 | ₦0 | | Total | ₦150,000 | ₦250,000 | Identify the error in the trial balance.

Answer Options

Correct Answer A. The debit and credit totals do not match.
B. The cash account has a debit balance.
C. The accounts payable account has a credit balance.
D. The sales revenue account has a debit balance.
Correct Answer
A
Correct Option:
The debit and credit totals do not match.

About This Question

This is Post Utme Pan Atlantic University 2021 Accounting Question 25. It is one of the objective questions from the 2021 Post Utme Pan Atlantic University Accounting examination.

View More Post Utme Pan Atlantic University 2021 Accounting Questions More Post Utme Pan Atlantic University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support