Post Utme Skyline University 2021 Accounting Question 18

Practice objective / multiple choice question 18 from the 2021 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2021 Accounting Objective / Multiple Choice
Question 18 POST_UTME_SKYLINE_UNIVERSITY • 2021 • ACCOUNTING • objective

A company has a trial balance as follows: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | ₦0 | | Accounts Payable | ₦0 | ₦15,000 | | Sales | ₦20,000 | ₦0 | | Cost of Goods Sold | ₦0 | ₦18,000 | | Net Income | ₦0 | ₦2,000 | Identify the error in the trial balance.

Answer Options

A. The debit balance of the Cash account is incorrect.
B. The credit balance of the Accounts Payable account is incorrect.
Correct Answer C. The debit balance of the Sales account is incorrect.
D. The credit balance of the Cost of Goods Sold account is incorrect.
Correct Answer
C
Correct Option:
The debit balance of the Sales account is incorrect.

About This Question

This is Post Utme Skyline University 2021 Accounting Question 18. It is one of the objective questions from the 2021 Post Utme Skyline University Accounting examination.

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