Asked by
Olivia Munroe
on Dec 17, 2024Verified
Which of the following errors would cause the trial balance to be out of balance?
A) An entry is posted twice.
B) An entry is not posted at all.
C) A debit is entered as $500 and the credit is entered at $5,000.
D) None of the above answers are correct.
Trial Balance
A report that lists all the balances of the general ledger accounts to check the correctness of bookkeeping entries.
Entry Posted
The action of recording an accounting entry in the ledger, which finalizes the transaction and makes it part of the financial records.
Debit
A bookkeeping record that causes assets to go up or liabilities to go down on a firm's balance sheet.
- Understand and amend typical inaccuracies in accounting, along with their consequences on financial statements.
Verified Answer
TW
Learning Objectives
- Understand and amend typical inaccuracies in accounting, along with their consequences on financial statements.