Which of the Following Errors Will Cause the Trial Balance

question 132

Multiple Choice

Which of the following errors will cause the trial balance totals to be unequal?

• A) posting the debit portion of a journal entry incorrectly when the credit portion of the entry is correctly posted
• B) failure to record a transaction or to post a transaction
• C) recording the same transaction more than once
• D) recording the same erroneous amount for both the debit and the credit parts of a transaction

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Definitions:

Arbitrage

The practice of buying and selling the same asset in different markets to profit from price discrepancies without any risk.

Uniform Pricing

A strategy where a business charges the same price for a product or service in all markets regardless of local economic conditions.

Direct Price Discrimination

A strategy in pricing where the seller sets varying prices for the identical product or service, depending on how much each customer is prepared to pay.

High-End Wok

A premium quality cooking utensil designed for stir-frying and other cooking methods, often featuring superior materials and craftsmanship.