An (X) at the Bottom of an Other Accounts Column

question 61

Multiple Choice

An (X) at the bottom of an Other Accounts column indicates that the total

• A)is not to be posted because figures have been posted separately.
• B)has been posted to the controlling account.
• C)has been posted at the end of the month.
• D)has been posted to the subsidiary ledger.
• E)is incorrect.

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Definitions:

Innocent Purchaser

A legal term for someone who buys property without knowledge of any existing claims, disputes, or flaws affecting the property's title.

Stolen Vehicle

A vehicle taken without the owner's consent, often referred to as theft.

Good Faith

An honest intention to act without taking an unfair advantage over another person, underlying many contractual negotiations and agreements.

Accidental Sale

A transaction where goods are sold unintentionally, often due to error or misunderstanding.