Asked by
Sabrina Grajales
on Dec 17, 2024
Verified
If the debit and credit totals of a trial balance are not equal, it could be due to the following type of error:
A) Failure to record a transaction
B) Recording the same erroneous amount for both the debit and the credit sides of a transaction
C) Incorrectly calculating the debit side total of the trial balance
D) Recording the same transaction more than once
Trial Balance
A ledger summary sheet where the sums of all accounts are organized into equal columns for both debits and credits.
Error
A mistake in recording financial data, which can be due to miscalculation, oversight, or misunderstanding of accounting principles.
- Recognize prevalent mistakes in the accounting procedure and understand the methods for rectifying them.
Verified Answer
TM
Learning Objectives
- Recognize prevalent mistakes in the accounting procedure and understand the methods for rectifying them.
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