A Trial Balance Would Detect Which of the Following Errors

question 38

Multiple Choice

A trial balance would detect which of the following errors?

• A) failure to record depreciation for the year
• B) a credit purchase recorded in accounts payable account as $927 instead of $972
• C) a cash purchase of inventory recorded as a debit to plant and a credit to accounts payable
• D) a salesman failing to record a cash sale,and retaining the proceeds.

---

Definitions:

Date Of Record

The specific date set by a company on which the shareholders of record are entitled to receive dividends or other distributions.

Dividend Payment Date

The specific date on which a company's dividend payment is to be made to shareholders of record.

Dividend Yield

A financial ratio that shows how much a company pays out in dividends each year relative to its share price.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from total revenues.