The Interest Expense in the Worksheet's Unadjusted Trial Balance Column

question 171

Multiple Choice

The Interest Expense in the worksheet's unadjusted trial balance column is $1,000.Interest Expense in the income statement column is $12,000.Which of the following entries would have caused this difference?

• A) a $12,000 credit to Interest Expense in the worksheet's adjustments column
• B) a $12,000 credit to Interest Payable in the worksheet's adjustments column
• C) a $11,000 debit to Interest Expense in the worksheet's adjustments column
• D) a $11,000 credit to Interest Expense in the worksheet's adjustments column

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Definitions:

Statute of Limitations

A regulation establishing the longest period after an occurrence within which legal actions must be started.

Malpractice

Failure by a professional person, such as a doctor or lawyer, to perform his or her duties competently, resulting in harm to a client or patient.

Metal Fabrication

The process of building machines and structures from raw metal materials, including cutting, bending, and assembling processes.

Negligent Omissions

Failures to act with the level of care that someone of ordinary prudence would have exercised under the same circumstances, often leading to harm or loss.