The trial balance is out of balance and the accountant suspects that a transposition or slide error has occurred. What will the accountant do to find the error?
A) Determine the amount of the error and look for that amount on the trial balance.
B) Determine the amount of the error and divide by two, then look for that amount on the trial balance.
C) Determine the amount of the error and refer to the journal entries for that amount
D) Determine the amount of the error and divide by nine. If the result is evenly divided, then this type of error is likely.
D
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Which of the following accounts probably would have a smaller balance in the Adjusted Trial Balance columns of a work sheet than in the Trial Balance columns?
a. Prepaid Advertising b. Wages Payable c. Accumulated Depreciation–Equipment d. Wages Expense
Which of the following is a true statement regarding the pension liability and pension expense recognition requirements of SFAS No. 87?
a. SFAS No. 87 presumes an explicit contract in calculating accrued pension expense. b. SFAS No. 87 uses an explicit contract view in requiring the recognition of a minimum pension liability. c. SFAS No. 87 may overestimate the pension liability by including future salary projections in the liability computation. d. SFAS No. 87 does not include future salary projections in the pension expense calculation.
Which of the following costs related to the purchase of production equipment incurred by ABC Company during 2011 would be considered a revenue expenditure?
A) Installation costs for equipment B) Purchase price of the equipment less the cash discount C) Repair and maintenance costs during the equipment's first year of service D) Transportation charges to deliver the equipment to ABC Company
An employer has the right to ask potential employees questions about their race, religion, and nationality
Indicate whether the statement is true or false