If the Total Debits and the Total Credits of a Trial

question 28

Multiple Choice

If the total debits and the total credits of a trial balance are not equal, the error could be due to:

• A) recording the same transaction twice.
• B) recording both the debit and credit of the journal entry for the same incorrect amount.
• C) an error in determining an account balance.
• D) forgetting to record a transaction.

Define and spot instances of fake news and its impact on information dissemination.

Understand the concept of copyright, public domain, and the respective rights associated with them.

Comprehend the technical aspects of digital and analog conversions including sampling rate.

Grasp the legal principles behind intellectual property, including copyrights, patents, and trade dresses.

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Definitions:

FOB Shipping Point

A term of sale indicating that the buyer assumes responsibility for shipping costs and risk of loss once the seller has delivered the goods to the shipping carrier.

Sales Discount

A reduction in the price of a product or service offered to customers, typically to prompt early payment or bulk purchases.

Cash Returns

Financial returns or profits that are received in the form of cash, as opposed to stock dividends or other non-liquid forms of return.

Inventory

Goods and materials held by a company for the ultimate goal of resale or production, including raw materials, work-in-progress, and finished goods.