Which of the Following Errors, Each Considered Individually, Would Cause

question 85

Multiple Choice

Which of the following errors, each considered individually, would cause the trial balance to be out of balance?

• A)A payment of $148 to a creditor was posted as a debit to Accounts Payable and a debit of $148 to Cash.
• B)Cash of $530 received from a customer on account was posted as a debit of $350 to Cash and as a credit of $350 to Accounts Payable.
• C)A payment of $59 for supplies was posted as a debit of $95 to Supplies and a credit of $95 to Cash.
• D)A transaction was not posted.

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Definitions:

Consumer Price Index

An indicator that calculates the weighted mean of the cost of a collection of consumer products and services, including transportation, food, and healthcare, employed to gauge inflation rates.

Inflation Rate

The enhancement of the overall price tag of goods and services in an economy throughout a specific period.

Consumer Price Index

A statistical estimate that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, calculated by taking price changes for each item in the predetermined basket of goods and averaging them.

Inflation Rate

The percentage increase in the price level of goods and services in an economy over a period of time, indicating the rate at which purchasing power is eroding.