Which of the Following Errors Will Not Cause the Debit

question 122

Multiple Choice

Which of the following errors will not cause the debit and credit columns of the trial balance to be unequal?

• A)A debit entry was recorded in the wrong account.
• B)A debit was entered in an account as a credit.
• C)The account balance was carried to the wrong column of the trial balance.
• D)The balance of an account was incorrectly computed.

---

Definitions:

Economic Profit

The financial gain achieved when revenues from business activity exceed the explicit and implicit costs of that activity.

Implicit Costs

Costs that represent the opportunity costs of using resources that the firm already owns, unlike explicit costs which involve direct monetary outlay.

Economic Loss

A decrease in financial wealth, goods, or resources, often as a result of business activities or economic policy decisions.

Accounting Profit

The net income a company reports on its financial statements, calculated as total revenues minus explicit costs.