When the trial balance totals are not equal, the error may have been caused by recording a debit as a credit if the difference is divisible by:
A. 3.
B. 9.
C. 5.
D. 2.
Answer: D
You might also like to view...
Which of the following is not an acceptable method for accounting for by-products in a joint manufacturing process?
a. Costs before the split-off point are allocated to by-products. b. The estimated sales value of the by-product reduces the cost of the main product. c. The value of by-products is included in an account called "By-products Inventory.". d. In some instances, the revenue from selling by-products may be treated as "other income" on the income statement.
Under inflationary conditions, the least conservative inventory method is lifo
Indicate whether the statement is true or false
You are __________ to commit a Type I error using the 0.05 level of significance than using the 0.01 level of significance.
A. more likely B. less likely C. equally likely D. twice as likely
It is beneficial for two related companies to use the cost price approach for transfer pricing when both of the companies operate as cost centers and are not concerned with the revenue
Indicate whether the statement is true or false