The Credit Purchase of a New Oven for $4,700 Was

question 90

Multiple Choice

The credit purchase of a new oven for $4,700 was posted to Kitchen Equipment as a $4,700 debit and to Accounts Payable as a $4,700 debit.What effect would this error have on the trial balance?

• A)The total of the Debit column of the trial balance will exceed the total of the Credit column by $4,700.
• B)The total of the Credit column of the trial balance will exceed the total of the Debit column by $4,700.
• C)The total of the Debit column of the trial balance will exceed the total of the Credit column by $9,400.
• D)The total of the Credit column of the trial balance will exceed the total of the Debit column by $9,400.
• E)The total of the Debit column of the trial balance will equal the total of the Credit column.

Understand the legal obligations and duties involved in the employer-employee relationship, specifically relating to safe working conditions.

Comprehend the requirements for agency contracts, including the necessity for written contracts in certain circumstances.

Recognize the confidentiality obligations and restrictions on disclosure of information by agents after the termination of an agency relationship.

Grasp the conditions under which an agency relationship is established and terminated, including the role of law in such processes.

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Definitions:

Triglycerides

A type of fat (lipid) found in your blood, used by the body for energy but high levels can increase the risk of heart disease.

Glycerol

A simple polyol compound that serves as a building block for lipids and can be converted into glucose by the liver.

Fatty Acids

Long chains of hydrocarbon molecules that are components of fats and oils, important in diet and metabolism.

Disaccharide

Condensation product of two monosaccharides by the elimination of water.