Post Utme Ui 2017 Accounting Question 18

Practice objective / multiple choice question 18 from the 2017 Post Utme Ui Accounting examination.

Post Utme Ui 2017 Accounting Objective / Multiple Choice
Question 18 POST_UTME_UI • 2017 • ACCOUNTING • objective

A company's trial balance as at 31st December, 2017 is as follows: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | ₦0 | | Accounts Payable | ₦0 | ₦15,000 | | Sales Revenue | ₦0 | ₦50,000 | | Cost of Goods Sold | ₦30,000 | ₦0 | | Net Income | ₦0 | ₦0 | | Total | ₦40,000 | ₦65,000 | Identify the error in the trial balance.

Answer Options

Correct Answer A. The debit and credit columns do not balance.
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 columns do not balance.

About This Question

This is Post Utme Ui 2017 Accounting Question 18. It is one of the objective questions from the 2017 Post Utme Ui Accounting examination.

View More Post Utme Ui 2017 Accounting Questions More Post Utme Ui 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