In Preparing a Work Sheet an Adjusted Trial Balance Amount

question 151

Multiple Choice

In preparing a work sheet an adjusted trial balance amount is mistakenly sorted to the wrong work sheet column. The Balance Sheet columns will balance on completing the work sheet but with the wrong net income, if the amount sorted in error is:

• A) A liability amount placed in the Income Statement Credit column.
• B) A liability amount placed in the Balance Sheet Debit column.
• C) An asset amount placed in the Balance Sheet Credit column.
• D) An expense amount placed in the Balance Sheet Credit column.
• E) A revenue amount placed in the Balance Sheet Debit column.

---

Definitions:

Foreign Aid

Financial or other assistance provided by one country to another, especially for development projects or to help recover from a disaster.

Multilateral Aid

Financial assistance provided by multiple governments or organizations to support development projects in other countries.

Nonprofit Organization

An entity that operates for the public or social benefit rather than to make a profit for its owners or shareholders.

Dambisa Moyo

An international economist and author known for her work on global economic trends and policies affecting economic development.