Post Utme Redeemers University 2025 Accounting Question 22

Practice objective / multiple choice question 22 from the 2025 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2025 Accounting Objective / Multiple Choice
Question 22 POST_UTME_REDEEMERS_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's trial balance showed an error of 1,000 in the accounts payable account. The correct balance should have been 20,000. What is the effect of this error on the company's net income?

Answer Options

A. ₦10,000 increase
Correct Answer B. ₦10,000 decrease
C. ₦20,000 increase
D. ₦20,000 decrease
Correct Answer
B
Correct Option:
₦10,000 decrease

About This Question

This is Post Utme Redeemers University 2025 Accounting Question 22. It is one of the objective questions from the 2025 Post Utme Redeemers University Accounting examination.

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