Post Utme Unilag 2018 Accounting Question 14

Practice objective / multiple choice question 14 from the 2018 Post Utme Unilag Accounting examination.

Post Utme Unilag 2018 Accounting Objective / Multiple Choice
Question 14 POST_UTME_UNILAG • 2018 • ACCOUNTING • objective

A company uses a control account system. The control account shows a debit balance of ₦4,000 in the account 'Trade Debtors' and a credit balance of ₦3,500 in the account 'Trade Creditors'. What is the correct journal entry to record the correction of this error?

Answer Options

Correct Answer A. Debit Trade Debtors ₦500, Credit Trade Creditors ₦500
B. Debit Trade Debtors ₦500, Credit Trade Creditors ₦3,500
C. Debit Trade Creditors ₦3,500, Credit Trade Debtors ₦3,500
D. Debit Trade Debtors ₦4,000, Credit Trade Creditors ₦3,500
Correct Answer
A
Correct Option:
Debit Trade Debtors ₦500, Credit Trade Creditors ₦500

About This Question

This is Post Utme Unilag 2018 Accounting Question 14. It is one of the objective questions from the 2018 Post Utme Unilag Accounting examination.

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