If the Trial Balance Does Not Balance,several Steps Can Be

question 51

Multiple Choice

If the trial balance does not balance,several steps can be taken to find the error.Which step will probably NOT help you find the error?

• A)Tracing each account back and forth from the journal to the ledger.
• B)Divide the out-of-balance amount by 2.
• C)Divide the out-of-balance amount by 9.
• D)Divide the out-of-balance amount by 5.

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Definitions:

Fixed Costs

Expenses that remain constant for a certain level of production or period, inclusive of rent, salaries, and insurance.

Financial Advantage

The benefit gained when financial resources are managed to maximize efficiency and profitability.

Contribution Margin

The margin between the income from sales and the costs that vary, illustrating the amount of revenue available for offsetting fixed expenses and yielding a profit.

Annual Fixed Costs

Costs that do not vary with the level of production or sales over the year, such as rent, salaries, and insurance.