How Many of the Following Statements Regarding Posting and Classification

question 145

Multiple Choice

How many of the following statements regarding posting and classification are true?

• A)Posting journal entries involves copying the dollar amounts from the ledger into the journal.
• B)If a $100 debit is erroneously posted to an account as a $100 credit,the accounts will be out of balance by $100.
• C)If a $5,000 liability is misclassified as stockholders' equity then the accounting equation will still balance.
• D)If a purchase of supplies on account for $100 is recorded with a debit to supplies of $10 and a credit to accounts payable for $10,the accounting equation will not balance.

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Definitions:

Well-Being

A state of being comfortable, healthy, or happy, often considered in discussions of personal satisfaction, economic policy, and health care.

Confirmation Bias

The tendency to look only for evidence that supports our assumptions.

Interpretive Bias

The tendency to interpret information in a way that confirms one's preconceptions, often leading to skewed understanding or judgment.

Reflective Skepticism

The practice of questioning and critically examining one's own beliefs and assumptions.