A Trial Balance Would Only Help in Detecting Which One

question 65

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 made in recording the transaction
• D)A transposition error when transferring the debit side of journal entry to the ledger

---

Definitions:

Implicit Costs

These are the costs of using resources owned by the company for production that aren't directly paid for or incurred as a clear expense.

Explicit Costs

Direct payments made to others in the course of running a business, such as wages, rent, and materials.

Normal Rate

The normal rate often refers to a baseline or average level of interest or return expected on an investment or loan in economics and finance.

Cost Per Bushel

The expenditure involved in producing or acquiring one bushel of a commodity, such as grain.