Neco Model Questions Vol1 2024 Financial Accounting Question 24
Practice objective / multiple choice question 24 from the 2024 Neco Model Questions Vol1 Financial Accounting examination.
The trial balance shows a debit balance of ₦12,000 in the Suspense Account. It is later discovered that a purchase invoice of ₦7,500 was omitted entirely (neither debit nor credit was recorded). All other entries are correct. What adjustment should be made to the Suspense Account, and what will be its balance after the correction?
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About This Question
This is Neco Model Questions Vol1 2024 Financial Accounting Question 24. It is one of the objective questions from the 2024 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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