Which of the Following Errors Can Be Corrected by Adjusting

question 42

Multiple Choice

Which of the following errors can be corrected by adjusting a posted payment or receipt -

• A) the amount of the payment was entered incorrectly
• B) the payment cheque was returned by the bank as NSF
• C) the payment was entered for the wrong customer or supplier
• D) none of the above - they all require a reversing entry

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Definitions:

Monitor

To observe and check the progress or quality of something over a period of time; keep under systematic review.

Documenting

The process of recording information, observations, or data on various mediums for future reference, analysis, or compliance.

Coach

A person who supports, instructs, and guides an individual or team to achieve their goals and improve their performance.

Improvement

The process of becoming better in quality, condition, or performance.