Which statement is not correct? The goal of batch controls is to ensure that during processing
a. transactions are not omitted
b. transactions are not added
c. transactions are free from clerical errors
d. an audit trail is created
C
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Identify and explain the three internal dialectics. Give an example to illustrate both sides of each pole.
What will be an ideal response?
On the balance sheet, a company reports plant assets by subtracting residual value from the original cost of the plant asset
a. True b. False Indicate whether the statement is true or false
An adjusted trial balance proves the balance of the ledger accounts after the adjusting entries have been posted
Indicate whether the statement is true or false
A simple tool that is widely used in accounting to represent a ledger account and to understand how debits and credits affect an account balance is called a:
A. Asset account. B. Balance column sheet. C. Common Stock account. D. Dividends account. E. T-account.