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:

Profit

The profit earned when the total income surpasses all the expenditures, costs, and taxes necessary for maintaining the business.

Profit-Maximizing

A strategy or approach taken by firms to achieve the highest possible profit from their operations.

Market Price

The existing rate at which an item or service is offered for buying or selling on the market.

Non-Negative Profit

A profit that is zero or positive, indicating that a business is not losing money.