Which of the Following Is a Method Used to Detect

question 53

Multiple Choice

Which of the following is a method used to detect errors when the two columns of the trial balance are NOT equal?

• A)Calculate the difference in the columns, divide the difference between total debits and total credits by 2 and search for a debit shown as a credit, or vice versa.
• B)Calculate the difference in the columns and search the trial balance for a transposition error or a slide error if the difference is evenly divisible by 9.
• C)Calculate the difference in the columns and search for a missing account with that balance.
• D)All of the above are suggested methods for detecting errors.

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Definitions:

Surpluses

Occurs when the supply of a particular good or service exceeds its demand, often leading to a decrease in prices.

Shortages

Shortages occur when the demand for a product exceeds the supply available at a particular price, often leading to higher prices and waiting times.

Usury Laws

Legislation that sets the maximum legal interest rate that can be charged on loans to prevent exploitative lending practices.

Rent Control

Government-enforced laws that limit the rent landlords can charge for apartments, aiming to keep housing affordable for renters.