After Posting Is Completed,there May Be an Error If

question 52

Multiple Choice

After posting is completed,there may be an error if:

• A)The sum of the customer account balances does not equal the total in the sales journal.
• B)The sum of the accounts receivable ledger does not equal the balance in the Sales account.
• C)The sum of the customer account balances does not equal the Accounts Receivable controlling account balance.
• D)The balance in the sales journal does not equal the Accounts Receivable account balance.
• E)The sum of the accounts receivable ledger does not equal the balance in the sales journal.

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Definitions:

Tax Liability

The total amount of tax owed to a taxing authority, such as the IRS, based on taxable income and tax rate.

Personal and Dependency

Terms related to exemptions that can be claimed on tax returns for oneself and for dependents, affecting taxable income.

Exemption

Deductions allowed by law to reduce taxable income based on the taxpayer and dependents.

Married Couple

Two individuals legally united in marriage, whose marital status can affect their tax filings, legal rights, and other societal entitlements.