NVC Often Happens Without Our Control and Knowledge; When This

question 3

Multiple Choice

NVC often happens without our control and knowledge; when this betrays our internal feelings, it is called:

• A) Adage
• B) Leakage
• C) Prestige
• D) Vantage

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Definitions:

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check for accuracy.

Offsetting Errors

Offsetting errors occur when two or more accounting mistakes cancel each other out, resulting in no net effect on the financial statements.

Trial Balance

A trial balance is a bookkeeping report that lists the balances of all ledgers accounts in two columns, debits and credits, ensuring that total debits equal total credits.

Accounts Payable

Liabilities to creditors for goods or services that have been received but not yet paid for.