Post Utme Wellspring University 2025 Accounting Question 26

Practice objective / multiple choice question 26 from the 2025 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2025 Accounting Objective / Multiple Choice
Question 26 POST_UTME_WELLSPRING_UNIVERSITY • 2025 • 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 in net income
Correct Answer B. ₦5,000 decrease in net income
C. ₦10,000 increase in net income
D. ₦10,000 decrease in net income
Correct Answer
B
Correct Option:
₦5,000 decrease in net income

About This Question

This is Post Utme Wellspring University 2025 Accounting Question 26. It is one of the objective questions from the 2025 Post Utme Wellspring University Accounting examination.

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