A Credit Balance in Which of the Following Accounts Would

question 100

Multiple Choice

A credit balance in which of the following accounts would indicate a likely error?

• A) Fees Earned
• B) Salary Expense
• C) Janet James, Capital
• D) Accounts Payable

---

Definitions:

Invitation To Treat

An offer to negotiate or an expression of willingness to discuss a potential contract.

Offer

A proposal by one party to enter into a contract, subject to acceptable terms by another party.

Standard Form Contract

A pre-prepared contract where most terms are set in advance with little or no negotiation between the parties, often used in routine transactions.

Legal Relationship

A connection between entities or individuals that is recognized and enforceable by law.