Assume That a Company Using a Purchases Journal Made an Error

question 90

Multiple Choice

Assume that a company using a purchases journal made an error in totaling the journal's columns.The error should be discovered:

• A)When the purchases journal is posted to the general ledger.
• B)When the trial balance is prepared.
• C)When the total of the schedule of accounts payable is compared with the balance of the Accounts Payable account.
• D)When the creditors receive their payments.
• E)When the financial statements are prepared.

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Definitions:

Linear Fashion

Refers to processes that proceed in a straight, sequential manner, addressing tasks one after the other.

Organic

Relating to methods or materials that are natural or not synthetic, particularly in agriculture; also refers to content that gains attention without paid promotion.

Steganography

The practice of concealing messages or information within other non-secret text or data.

Medium

Medium refers to a channel or tool used for communication or dissemination of information, such as a digital platform, printed material, or verbal communication.