Which of the Following Errors Will Be Detected When a Trial

question 79

Multiple Choice

Which of the following errors will be detected when a trial balance is properly prepared?

• A) An amount that was entered in the wrong account
• B) A transaction that was entered twice
• C) A transaction that had been omitted
• D) None of these

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Definitions:

Annual Income

The total earnings from work, investment, benefits, and other sources over the course of a year.

Future Values

The projected amount of money or value of an investment at a specified future date, accounting for factors like interest rates and returns.

Investment 1

The strategy of apportioning capital with the expectation of generating financial returns.

Compounded Quarterly

Describes the frequency with which interest is added to the principal balance of a loan or deposit four times a year, increasing the total amount of interest earned or paid.