Which of the Following May Cause the Sum of the Debit

question 39

Multiple Choice

Which of the following may cause the sum of the debit column of a trial balance to differ from the sum of the credit column?

• A) posting the same wrong amount to both sides of the right accounts
• B) posting an amount to the wrong side of the right account
• C) posting an amount to the right side of the wrong account
• D) reversing the postings,i.e.,debiting the account that should have been credited and crediting the account that should have been debited.

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Definitions:

Effective Rate

The actual interest rate that a borrower pays or earns, taking into account the compounding of interest.

Contract Rate

The pre-agreed interest rate specified in a financial contract or loan agreement.

Bond Premium

The additional amount over the face value for which a bond is sold, representing the difference between its selling price and its face value.

EPS

Earnings Per Share, a financial ratio indicating the amount of profit attributed to each outstanding share of common stock, used to gauge a company's profitability.