A Slide Is an Error That Results When Zeros Have

question 33

True/False

A slide is an error that results when zeros have been added or deleted when writing an amount. Example: 10,000 is written as 1,000.

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Definitions:

Salaries and Wages Payable

Liabilities arising from employees' salaries and wages that have been earned but not yet paid.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditures to the correct periods.

Supplies Account

An account that tracks the cost of supplies used or on hand during an accounting period.

Inventory

The total amount of goods held by a company for the purpose of resale or production.