Post Utme Veritas University 2019 Accounting Question 25

Practice objective / multiple choice question 25 from the 2019 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2019 Accounting Objective / Multiple Choice
Question 25 POST_UTME_VERITAS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company has a self-balancing ledger account for its creditors. The ledger account balance is ₦30,000. The control account balance is ₦20,000. Prepare the necessary journal entry to rectify the discrepancy.

Answer Options

Correct Answer A. Debit Creditors 10,000, Credit Control Account 10,000
B. Debit Control Account 10,000, Credit Creditors 10,000
C. Debit Creditors 10,000, Credit Cash 10,000
D. Debit Cash 10,000, Credit Creditors 10,000
Correct Answer
A
Correct Option:
Debit Creditors 10,000, Credit Control Account 10,000

About This Question

This is Post Utme Veritas University 2019 Accounting Question 25. It is one of the objective questions from the 2019 Post Utme Veritas University Accounting examination.

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