Which Error Will Be Uncovered by a Trial Balance

question 110

Multiple Choice

Which error will be uncovered by a trial balance?

• A)The bookkeeper recorded the same journal entry three times.
• B)The bookkeeper forgot to record a journal entry for a large amount.
• C)The bookkeeper recorded both the debit and credit of a journal entry as $200 instead of $700.
• D)The bookkeeper recorded a journal entry with a debit of $400 and a credit of $400,as a debit of $400 and a credit of $40.

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Definitions:

Cartel Price

The price level set by a cartel, where members agree to control supply to maximize their profits.

Production Declines

A reduction in the quantity of goods and services produced, often due to factors such as decreased demand or disruptions in supply chains.

Cartel Members

Entities that agree to work together to control prices and market shares within an industry, inhibiting competition.

Market Demand Curve

A graph showing the relationship between the price of a good and the total quantity demanded by all consumers in the market at each price level.