Post Utme Unilag 2021 Accounting Question 9

Practice objective / multiple choice question 9 from the 2021 Post Utme Unilag Accounting examination.

Post Utme Unilag 2021 Accounting Objective / Multiple Choice
Question 9 POST_UTME_UNILAG • 2021 • ACCOUNTING • objective

A company has a trial balance that shows a debit balance of ₦50,000 in the account 'Office Supplies'. However, the company's accountant has discovered that the account 'Office Supplies' has been incorrectly debited. What is the correct treatment for this error?

Answer Options

A. The error will be corrected by crediting the account 'Office Supplies' with ₦50,000.
Correct Answer B. The error will be corrected by debiting the account 'Office Supplies' with ₦50,000.
C. The error will be corrected by transferring the balance of ₦50,000 to the account 'Office Expenses'.
D. The error will be corrected by transferring the balance of ₦50,000 to the account 'Cash'.
Correct Answer
B
Correct Option:
The error will be corrected by debiting the account 'Office Supplies' with ₦50,000.

About This Question

This is Post Utme Unilag 2021 Accounting Question 9. It is one of the objective questions from the 2021 Post Utme Unilag Accounting examination.

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