A Common Error Encountered When Examining a Worksheet That Does

question 28

Multiple Choice

A common error encountered when examining a worksheet that does not balance is the discovery that the error is mathematically divisible by nine. This type of error is commonly referred to as:

• A) an addition or subtraction error.
• B) a single-entry error.
• C) a transposition error.
• D) a double-entry error.

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Definitions:

Matching Funds

Financial contributions where an organization matches donations or investments made by another party, often seen in grants and fundraising.

Reconciliation

The process of ensuring that two sets of records or data are in agreement and accurate, typically used in finance to match transactions.

Expert Judgment

Insights or assessments provided by individuals with specialized knowledge or expertise in a particular area, used to inform decisions or planning.

Incomplete Information

A scenario where not all relevant information is available, leading to uncertainties in decision-making processes.