If a Transaction Worth $50 Is Not Recorded,the Trial Balance

question 62

Multiple Choice

If a transaction worth $50 is not recorded,the trial balance will:

• A) not be effected.
• B) be out of balance by $50.
• C) be out of balance by $100.
• D) be out of balance by $200.

---

Definitions:

Demand for Products

Consumers' eagerness and capability to acquire goods and services for certain prices.

Substitution Effect

The change in consumption patterns due to a change in relative prices, leading consumers to substitute one product for another.

Output Effect

The impact on total revenue when a firm alters its production level, influencing the quantity of goods sold and potentially the market price.

Fixed Proportions

A production process in which inputs are used in a constant ratio to each other, with no substitution possible between the inputs.