A Trial Balance Shows Total Debits of $540,000 and Total

question 131

Multiple Choice

A trial balance shows total debits of $540,000 and total credits of $450,000. This discrepancy is most likely due to which type of error?

• A) Slide
• B) Transposition
• C) Mislabeling
• D) Failure to post a transaction

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Definitions:

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Utility

The total satisfaction or value derived from consuming goods or services, often considered in economic decisions and analyses.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values.

Training Program

A structured plan designed to increase the knowledge, skills, and capabilities of individuals or groups.