Given the Following Errors,identify the One by Itself That Will

question 191

Multiple Choice

Given the following errors,identify the one by itself that will cause the trial balance to be out of balance.

• A)A $200 cash salary payment posted as a $200 debit to Cash and a $200 credit to Salaries Expense.
• B)A $100 cash receipt from a customer in payment of her account posted as a $100 debit to Cash and a $10 credit to Accounts Receivable.
• C)A $75 cash receipt from a customer in payment of her account posted as a $75 debit to Cash and a $75 credit to Cash.
• D)A $50 cash purchase of office supplies posted as a $50 debit to Office Equipment and a $50 credit to Cash.
• E)An $800 prepayment from a customer for services to be rendered in the future was posted as an $800 debit to Unearned Revenue and an $800 credit to Cash.

Understand the complexities in measuring the opportunity cost of leisure.

Understand the impact of technological advances on labor productivity.

Recognize the influence of firm competition on wage setting.

Grasp how inflation-adjusted wages correlate with labor demand over time.

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Definitions:

Accounts Payable

The amounts a company owes because it purchased goods or services on credit from a supplier or vendor.

Internal Control

A process designed by an organization's management and personnel to provide reasonable assurance regarding the achievement of effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations.

Reasonable Assurance

A concept in auditing that suggests although not absolute, there is a high level of confidence in the financial statements accuracy.

Control Activities

Procedures and policies that are implemented by an entity to ensure that its directives are carried out, including safeguarding assets and preventing and detecting errors and fraud.