GXC Inccommitted the Following Errors During 20x1, Its First Year of of Operations

question 97

Multiple Choice

GXC Inc.committed the following errors during 20x1, its first year of operations: Recorded $800 of interest expense as a debit to prepaid expense and a credit to cash.GXC recorded $2,000 of unearned revenue as a debit to revenue receivable and a credit to revenues.
No adjusting entries were made related to these transaction entries.The effect of these errors is as follows: 20x1:

• A)Choice 1
• B)Choice 2
• C)Choice 3
• D)Choice 4

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Definitions:

Right Relationships

Relationships characterized by appropriate and ethical interactions between individuals or entities.

Cardinal Disposition

A dominant personality trait that defines an individual's major characteristics or behaviors.

Secondary Traits

Personality characteristics that are less consistent and more dependent on the situation, compared to primary traits.

Core Identity

The essential characteristics or attributes that define an individual or entity's unique personality and nature.