When a Date Is Entered Without a Year, an Error

question 55

True/False

When a date is entered without a year, an error value appears in the active cell.

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Definitions:

Unadjusted Trial Balance

A report listing all the balances in each account in the ledger before any adjusting entries are made, used to check the equality of debits and credits.

Errors

Mistakes or inaccuracies found in financial statements or transactions.

Normal Balances

Refers to the expected debit or credit balance in a specific type of account, consistent with its accounting equation side.

Horizontal Analysis

A method of financial assessment that involves examining past financial records across various reporting intervals to discern tendencies and patterns of growth.