What Entries Should Be Made in the Extended Trial Balance

question 13

Multiple Choice

What entries should be made in the extended trial balance in respect of an accrual for electricity charges?

• A) Debit the income statement and credit the asset account
• B) Debit the income statement and credit the current liabilities
• C) Credit the income statement and debit the asset account
• D) Credit the income statement and debit the current liabilities

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Definitions:

Participation Error

Mistakes or difficulties that arise in the context of individuals engaging with or contributing to a group activity or decision-making process.

Programmed Decisions

Decisions that are routine and repetitive, often automated or made following established guidelines or procedures.

Moral Problem

Poses major ethical consequences for the decision maker or others.

Ethically Uncomfortable Alternatives

Choices or options that present moral dilemmas or discomfort due to potential harm or ethical issues.