Given the Following Errors, Identify the One by Itself That

question 135

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 $75 cash receipt from a customer in payment of her account posted as a $75 debit to Cash and a $75 credit to Cash.
• C) 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.
• D) 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.
• E) A $50 cash purchase of office supplies posted as a $50 debit to Office Equipment and a $50 credit to Cash.

Understand and correct common misconceptions about how often interest is compounded annually.

Calculate future savings based on various compounding intervals.

Understand the process and importance of reconciling a checkbook with a bank statement.

Identify the variables in financial formulas and understand their practical implications.

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Definitions:

Matching Hypothesis

The proposition that people tend to pair up with others who are equally attractive.

Attractiveness

The quality of being appealing or pleasing in appearance, which can evoke interest, desire, or preference in others.

Physical Attractiveness

The perception of an individual's physical features as aesthetically pleasing or beautiful by societal or personal standards.

Matching Hypothesis

A theory suggesting that individuals are more likely to form and succeed in a committed relationship with someone who is equally attractive.