Which of the Following Errors Will Cause a Trial Balance

question 168

Multiple Choice

Which of the following errors will cause a trial balance to be out of balance?

• A) Posting a debit to Land as a debit to Machinery
• B) Placing a debit balance amount into the credit balance column of the ledger
• C) Omitting an entire transaction
• D) Incorrectly recording the purchase of land for cash as a debit to Cash and a credit to Land

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Definitions:

Termination Statement

An amendment to a financing statement, which states that the debtor has no obligation to the secured party.

Secured Party

A creditor or lender that has an interest, typically in the form of a lien, in the collateral offered by the debtor to secure a loan or obligation.

Collateral

Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower defaults.

Proceeds

The total amount of money or assets that result from a particular transaction or event.