Of the Following Errors, Which One by Itself Will Cause

question 119

Multiple Choice

Of the following errors, which one by itself will cause the trial balance to be out of balance?

• A) A $200 salary payment posted as a $200 debit to Cash and a $200 credit to Salaries Expense
• B) A $100 receipt from a customer in payment of his account posted as a $100 debit to Cash and a $10 credit to Accounts Receivable
• C) A $75 receipt from a customer in payment of his account posted as a $75 debit to Cash and a $75 credit to Cash
• D) A $50 cash purchase of office supplies posted as a $50 debit to Office Equipment and a $50 credit to Cash
• E) All of these errors will cause the trial balance to be out of balance.

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Definitions:

Flow Variable

A quantity that is measured over a specified period of time, contrasting with stock variables which are measured at one specific time.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including currency, coins, and balances held in checking and savings accounts.

Household Debt

The total amount of debt, including mortgages, credit cards, loans, etc., owed by all members of a household.

Macroeconomics

The branch of economics that studies overall economic dynamics such as total output, employment levels, and inflation across an entire economy.