Which of the Following Errors Would Be Detected by a Trial

question 20

Multiple Choice

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

• A) Staff wages were recorded as office expenses.
• B) The cashier pocketed the cash from a cash sale and did not record it on the register.
• C) A cash sale was recorded in the sales account as $548 instead of $584 but was correctly recorded in the bank account.
• D) Supplies purchased on credit were recorded as a debit to the plant and equipment account and a credit to the accounts payable account.

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Definitions:

Divisional Cost

Costs that are attributed to a specific division within a company, often used for measuring the division's performance and profitability.

WACC

A formula called the Weighted Average Cost of Capital computes the cost of capital for a business by assigning proportional weights to different capital categories.

Stock Market

A public market for buying, selling, and issuance of stocks of publicly held companies, facilitating equity investment and ownership.

Value

The economic worth of a good, service, asset, or company based on the benefits or returns it provides.