Which of the Following Errors Can Be Corrected by Adjusting

question 13

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:

Universal Music

A global music corporation that owns and operates a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content.

Warner Music

A global entertainment and record label conglomerate that is one of the "big three" recording companies, representing a wide array of artists across multiple genres.

Blockbuster Movies

High-budget films that are expected to be significant commercial successes.

Hollywood Studios

Major film production companies based in Hollywood, California, known for producing and distributing films globally.