Which of the Following Errors Would Cause the Balance Sheet

question 214

Multiple Choice

Which of the following errors would cause the Balance Sheet and Statement of Retained Earnings columns of a work sheet to be out of balance?

• A)Entering an asset amount in the Income Statement Debit column.
• B)Entering a liability amount in the Income Statement Credit column.
• C)Entering an expense amount in the Balance Sheet and Statement of Retained Earnings Debit column.
• D)Entering a revenue amount in the Balance Sheet and Statement of Retained Earnings Debit column.
• E)Entering a liability amount in the Balance Sheet and Statement of Retained Earnings Credit column.

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Definitions:

Exchange-Listed

A security or financial instrument that is authorized for trading on an official securities exchange.

Capital Gains Yield

The rise in price of an investment or asset, expressed as a percentage of the investment's purchase price.

Appreciate

An increase in the value of an asset over time.

Stock Price

The current market value of a share of a company's stock, determined by supply and demand dynamics in the stock market.