A Trial Balance Would Detect Which of the Following Errors

question 23

Multiple Choice

A trial balance would detect which of the following errors?

• A) Failure to record depreciation for the year.
• B) A credit purchase recorded in accounts payable account as $927 instead of $972.
• C) A cash purchase of inventory recorded as a debit to plant and a credit to accounts payable.
• D) A salesman failing to record a cash sale,and retaining the proceeds.

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Definitions:

Accounts Receivable

The money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Raw Materials

The basic materials from which products are manufactured or made.

Accounts Payable

The amounts a company owes because it purchased goods or services on credit from a supplier or vendor.

Required Production

The quantity of products that must be manufactured or produced to meet customer demand.