The Credit Purchase of a New Oven for $4,700 Was

question 90

Multiple Choice

The credit purchase of a new oven for $4,700 was posted to Kitchen Equipment as a $4,700 debit and to Accounts Payable as a $4,700 debit.What effect would this error have on the trial balance?

• A)The total of the Debit column of the trial balance will exceed the total of the Credit column by $4,700.
• B)The total of the Credit column of the trial balance will exceed the total of the Debit column by $4,700.
• C)The total of the Debit column of the trial balance will exceed the total of the Credit column by $9,400.
• D)The total of the Credit column of the trial balance will exceed the total of the Debit column by $9,400.
• E)The total of the Debit column of the trial balance will equal the total of the Credit column.

Distinguish between goods and services under the Sale of Goods Act.

Recognize the implications of the Act for consumer protection.

Analyze the conditions and warranties implied by the Sale of Goods Act.

Understand the remedies available for breach under the Sale of Goods Act.

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Definitions:

Psychology Exam

A standardized test or assessment aimed at evaluating an individual's knowledge, understanding, and application of psychological concepts, theories, and practices.

Shadowing

A task in cognitive psychology where an individual is asked to repeat speech immediately after hearing it, often used to study attention and language processing.

Mental Processes

The internal, covert activities of our minds, including thinking, feeling, and problem-solving.

Long-term Storage

The process of retaining information over extended periods, often throughout a person's life.