Which of the Following Errors Would Be Disclosed by Preparation

question 85

Multiple Choice

Which of the following errors would be disclosed by preparation of a trial balance?

• A)The collection of an account receivable was recorded by a debit to the Land account rather than to the Cash account.
• B)The collection of an account receivable for $219 was recorded by a $291 debit to Cash and a $291 credit to Accounts Receivable.
• C)The collection of a $365 account receivable was not recorded at all.
• D)The collection of a $325 account receivable was recorded by a $325 debit to Cash and a $325 debit to Accounts Receivable.

Understand the concept of net operating income under both absorption and variable costing methods.

Calculate unit product cost under variable and absorption costing.

Interpret the contribution margin and its significance in managerial accounting.

Analyze the impact of fixed manufacturing overhead costs on inventories and net operating income.

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Definitions:

Clarification

The act of making a statement or situation less confused and more comprehensible.

Concerns

Issues or matters of interest or importance that require consideration or attention.

Feelings

Emotional states or reactions that are subjective experiences often triggered by external or internal events.

Hispanic Subcultures

Distinct cultural groups within the larger Hispanic or Latino community, each with unique traditions, histories, and influences.