An Entry to Record the Payment to a Vendor Was

question 60

Multiple Choice

An entry to record the payment to a vendor was not recorded and posted to the general ledger but was posted to the subsidiary ledger.This error would cause:

• A)the period end assets to be understated.
• B)the period end liabilities to be understated.
• C)the Accounts Payable will be larger than the subsidiary ledger.
• D)the Accounts Payable will be less than the subsidiary ledger.

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Definitions:

PDCA Cycle

A method used in business for continuous improvement, consisting of four phases: Plan, Do, Check, Act.

Action Map

A plan or strategy outlining specific actions required to achieve a particular goal or outcome.

Alternatives

Other options or choices available to consider instead of a primary selection.

Nominal Group

A group technique involving structured small-group discussion to generate and prioritize ideas or solutions.