Waec Model Questions Vol1 2021 Financial Accounting Question 44
Practice objective / multiple choice question 44 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
During posting, a purchase invoice of ₦25,000 was mistakenly debited to Purchases and credited to Cash instead of Creditors Control. The trial balance remains balanced. To correct the error, the accountant creates a suspense account entry. If the suspense account currently carries a debit balance of ₦25,000, how much should be transferred from the suspense account to the Creditors Control Account to rectify the mistake?
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About This Question
This is Waec Model Questions Vol1 2021 Financial Accounting Question 44. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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