After Posting Is Completed, There May Be an Error If

question 14

Multiple Choice

After posting is completed, there may be an error if

• A) The sum of the customer account balances does not equal the total in the sales journal
• B) The sum of the accounts receivable ledger does not equal the balance in the sales account
• C) The sum of the customer account balances does not equal the accounts receivable controlling account balance
• D) The balance in the sales journal does not equal the accounts receivable controlling account balance
• E) The sum of the accounts receivable ledger does not equal the balance in the sales journal

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Definitions:

Strengthening Currency

A currency that is increasing in value compared to another currency, often due to improved economic indicators or increased demand.

Exchange Gain

A financial gain resulting from a favorable change in exchange rates affecting the value of foreign-currency-denominated assets or liabilities.

Current-Rate Method

A method used in translating the financial statements of foreign subsidiaries, where all assets and liabilities are translated at the current exchange rate.

Retained Earnings

The portion of a company's profit that is held or retained and not paid out as dividends to shareholders, often used for investment in the business, debt reduction, or to shore up the balance sheet.