Which of the Following Errors Would a Trial Balance Help

question 112

Multiple Choice

Which of the following errors would a trial balance help the accounting staff to find?

• A)A sale for $8,300 occurred,and instead of debiting Cash for $8,300,Accounts Receivable was debited for $8,300.
• B)A sale for $8,300 occurred,and instead of debiting Cash for $8,300,Accounts Payable was debited for $8,300.
• C)A sale for $8,300 occurred,and instead of debiting Cash and crediting Sales for $8,300,Cash was credited and Sales was debited for $8,300.
• D)A sale for $8,300 occurred,and instead of debiting Cash and crediting Sales for $8,300,Cash was debited for $700,and Sales was credited for $8,300.
• E)A sale for $8,300 occurred and instead of debiting Cash for $8,300 and crediting Sales for $8,300,Cash was debited for $7,000 and Sales was credited for $7,000.

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Definitions:

Dominant Strategies

In game theory, a strategy that is best for a player in a game regardless of the strategies chosen by other players.

Equilibrium

The state in an economy or market where demand equals supply, leading to stable prices.

Poison Pill

A strategy used by companies to prevent or discourage hostile takeovers by making the company less attractive to the acquirer.

Dominant Strategy

A strategy in a game where, regardless of the opponent's move, it remains the best choice.