An Error Has Been Made on the Worksheet If

question 72

Multiple Choice

An error has been made on the worksheet if:

• A)the trial balance columns and the adjusted trial balance columns are not equal.
• B)the income statement columns do not equal the balance sheet columns.
• C)the adjusted trial balance debit column and credit column do not equal.
• D)the unadjusted trial balance column is in balance.

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Definitions:

Long-Term Investments

Assets intended to be held for more than one year, including stocks, bonds, or real estate, to generate revenue or appreciate in value.

Debt Securities

Financial instruments representing a loan made by an investor to a borrower, typically involving regular interest payments and the return of the original investment at maturity.

Stock Investments

Purchasing and holding shares of stock in a company with the expectation of earning a return in the form of dividends, capital gains, or both.

Common Stock

A type of security that represents ownership in a corporation, granting shareholders voting rights and a share in the company’s profits through dividends.