Post Utme Unn 2018 Accounting Question 31

Practice objective / multiple choice question 31 from the 2018 Post Utme Unn Accounting examination.

Post Utme Unn 2018 Accounting Objective / Multiple Choice
Question 31 POST_UTME_UNN • 2018 • ACCOUNTING • objective

A company's trial balance shows an error of ₦5,000 in the debit side of the accounts payable account. The correct amount is ₦15,000. What is the effect of this error on the company's net income?

Answer Options

A. ₦5,000 increase
Correct Answer B. ₦5,000 decrease
C. ₦10,000 increase
D. ₦10,000 decrease
Correct Answer
B
Correct Option:
₦5,000 decrease

About This Question

This is Post Utme Unn 2018 Accounting Question 31. It is one of the objective questions from the 2018 Post Utme Unn Accounting examination.

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