Post Utme Rsu 2025 Accounting Question 34

Practice objective / multiple choice question 34 from the 2025 Post Utme Rsu Accounting examination.

Post Utme Rsu 2025 Accounting Objective / Multiple Choice
Question 34 POST_UTME_RSU • 2025 • ACCOUNTING • objective

A company's balance sheet shows a debit balance of ₦40,000 in the 'Accrued Expenses' account. However, the company's accountant has forgotten to record a credit entry of ₦20,000 in the 'Accrued Income' account. What is the correct journal entry to correct this error?

Answer Options

A. Debit Accrued Expenses ₦20,000 and Credit Accrued Income ₦20,000
Correct Answer B. Debit Accrued Income ₦20,000 and Credit Accrued Expenses ₦20,000
C. Debit Accrued Expenses ₦20,000 and Credit Cash ₦20,000
D. Debit Cash ₦20,000 and Credit Accrued Expenses ₦20,000
Correct Answer
B
Correct Option:
Debit Accrued Income ₦20,000 and Credit Accrued Expenses ₦20,000

About This Question

This is Post Utme Rsu 2025 Accounting Question 34. It is one of the objective questions from the 2025 Post Utme Rsu Accounting examination.

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