Neco 2023 Financial Accounting Question 50
Practice objective / multiple choice question 50 from the 2023 Neco Financial Accounting examination.
A trial balance shows total debits \(250,000\) and total credits \(245,000\). The suspense account carries a debit balance of \(5,000\). It is discovered that a purchase invoice of \(12,000\) was mistakenly debited to Purchases instead of being credited to Creditors. Determine the corrected balance of the suspense account after the error is rectified.
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About This Question
This is Neco 2023 Financial Accounting Question 50. It is one of the objective questions from the 2023 Neco Financial Accounting examination.
Difficulty level: Medium .
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