When the Trial Balance Includes a Debit Column Total of $18,352

question 152

Multiple Choice

When the trial balance includes a debit column total of $18,352 and a credit column total of $18,552, it is probable that

• A) a transposition error occurred.
• B) a $100 debit was recorded twice.
• C) a $100 credit was recorded twice.
• D) a $100 debit was recorded as a credit.

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Definitions:

Firm's Profitability

Indicates how effectively a company generates profit compared to its expenses and other relevant costs.

Inventory Period

The average time it takes for inventory to be sold and converted into cash or accounts receivable.