A Trial Balance Would Only Help in Detecting Which One

question 102

Multiple Choice

A trial balance would only help in detecting which one of the following errors?

• A) A transaction that is not journalized
• B) A journal entry that is posted twice
• C) Offsetting errors are made in recording the transaction
• D) A transposition error when transferring the debit side of journal entry to the ledger

Acknowledge the importance of customer complaints as a valuable feedback mechanism.

Understand the roles and responsibilities of key corporate officers and entities involved in financial reporting and oversight, including the CEO, CFO, audit committee, FASB, and SEC.

Identify and explain the components and importance of the summary of significant accounting policies in financial statements.

Distinguish between the direct and indirect methods of cash flow reporting.

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Definitions:

Academic Performance

The measurement of a student's progress and achievements in their educational pursuits, often evaluated through grades and assessments.

Internet Addiction

A compulsive need to spend excessive amounts of time on the internet, often leading to distress or impairment in social, occupational, or other important areas of functioning.

Disorder

A disturbance in normal physical or mental health, functioning, or condition.

Depression

A mental health disorder characterized by persistent feelings of sadness, loss of interest, and other emotional and physical symptoms.