In a Trial Balance, If Total Debits Do Not Equal

question 11

Multiple Choice

In a trial balance, if total debits do not equal total credits when the accounts are totaled,

• A) the bookkeeper must have made an error.
• B) the expected inequality is corrected during the normal adjusting process.
• C) no change is made because the amount of assets will typically exceed the amount of liabilities.
• D) the company will report a loss on its income statement because expenses are greater than revenues.

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Definitions:

Fixated

Having an obsessive focus or attachment to someone or something.

Psychosexual Stage

A concept in Freudian psychoanalytic theory referring to the series of five stages in childhood development, each characterized by the pleasure focus on a different part of the body.

Freud

Sigmund Freud was an Austrian neurologist known for founding psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Anally Fixated

a term from Freudian psychology referring to a stage of psychosexual development where there's a strong focus on activities related to the anus, such as retention or expulsion of feces, which can influence personality traits.