A Company Failed to Post a $50 Debit to the Office

question 92

Multiple Choice

A company failed to post a $50 debit to the Office Supplies account.The effect of this error will be that:

• A) The Office Supplies account balance will be overstated.
• B) The trial balance will not balance.
• C) The error will overstate the debits listed in the journal.
• D) The total debits in the trial balance will be larger than the total credits.
• E) The trial balance will be in balance.

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Definitions:

Dissolution Procedures

The legal process involved in dissolving a corporation or partnership, including winding up business affairs, liquidating assets, and distributing proceeds to shareholders or partners.

Aggressor

A person, group, or nation that initiates hostilities or conflict without provocation.

Voting Shares

Voting shares are shares of stock in a company that grant the shareholder the right to vote on corporate matters, such as electing the board of directors.

Grassroots Corporation

A business organization that is founded and operated by ordinary people or community members, often focusing on local or social causes.