Identify the Item Below That Would Cause the Trial Balance

question 16

Multiple Choice

Identify the item below that would cause the trial balance to not balance?

• A)A $1,000 collection of an account receivable was erroneously posted as a debit to Accounts Receivable and a credit to Cash.
• B)The purchase of office supplies on account for $3,250 was erroneously recorded in the journal as $2,350 debit to Office Supplies and credit to Accounts Payable.
• C)A $50 cash receipt for the performance of a service was not recorded at all.
• D)The purchase of office equipment for $1,200 was posted as a debit to Office Supplies and a credit to Cash for $1,200.
• E)The cash payment of a $750 account payable was posted as a debit to Accounts Payable and a debit to Cash for $750.

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Definitions:

Valuation Risk

The potential for a difference between the estimated value of an investment and its actual market value.

Reputational Risk

The potential loss or negative impact a company might experience in its market perception or credibility due to certain events, decisions, or incidents.

Economic Freedom Index

A measure of the ease of conducting business in a country, based on factors like trade freedom, investment freedom, and property rights.

Regulatory Efficiency

The effectiveness and efficiency with which regulations are designed and implemented, minimizing costs and burdens to businesses while accomplishing regulatory goals.