Waec Model Questions Vol1 2025 Financial Accounting Question 25

Practice objective / multiple choice question 25 from the 2025 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2025 Financial Accounting Objective / Multiple Choice Medium Difficulty
Question 25 WAEC_MODEL_QUESTIONS_VOL1 • 2025 • FINANCIAL_ACCOUNTING • objective

A trial balance shows total debits of ₦500,000 and total credits of ₦480,000. If the difference is due to an error in recording, what is the amount of the error, and how should it be treated in the financial statements?

Answer Options

A. ₦10,000; adjust accounts accordingly
B. ₦30,000; adjust accounts accordingly
C. ₦50,000; adjust accounts accordingly
Correct Answer D. ₦20,000; adjust accounts accordingly
Correct Answer
D
Correct Option:
₦20,000; adjust accounts accordingly

About This Question

This is Waec Model Questions Vol1 2025 Financial Accounting Question 25. It is one of the objective questions from the 2025 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Medium .

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