If the Sum of the Debits Is Not Equal to the Sum

question 79

Multiple Choice

If the sum of the debits is not equal to the sum of the credits in a trial balance, then

• A)there is no concern because the two amounts are not meant to be equal.
• B)the chart of accounts does not balance.
• C)it is safe to proceed with the preparation of financial statements.
• D)it is likely that an error was made in journalizing or posting transactions or in computing the account balance.

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Definitions:

Incentives

Incentives are external rewards or penalties that motivate individuals to take specific actions or behave in certain ways.

Motivate

The process of stimulating interest or enthusiasm for doing something, often leading to increased effort and goal-directed behavior.

Monetary Bonus

A financial reward given to an employee beyond their regular salary or wages.

Self-Transcendence

A state or action of going beyond one's own interests, concerns, or personal experiences, often associated with spiritual or altruistic experiences.