If the Two Totals of a Trial Balance Are Not

question 211

Multiple Choice

If the two totals of a trial balance are not equal, it could be due to

• A) failure to record a transaction
• B) recording the same erroneous amount for both the debit and the credit parts of a transaction
• C) an error in determining the account balances, such as a balance being incorrectly computed
• D) recording the same transaction more than once

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Definitions:

Input Prices

The cost of resources used in the production of goods or services, including raw materials, labor, and overheads.

Technological Change

Refers to the improvement or innovation in technology, affecting how goods or services are produced or delivered.

Number Of Suppliers

The total count of entities or individuals providing a specific good or service in a market.

Normal Good

A good for which demand increases as the income of the individual or economy increases, and decreases when the income decreases.