Multiple Choice
If the Balance Sheet columns of a work sheet fail to balance when the amount of profit is added to the Balance Sheet Credit column, the cause could be
A) An expense amount entered in the Balance Sheet Debit column
B) A revenue amount entered in the Balance Sheet Credit column
C) An asset amount entered in the Income Statement Debit column
D) A liability amount entered in the Balance Sheet Debit column
E) A liability amount entered in the Income Statement Credit column
Correct Answer:
Verified
Correct Answer:
Verified
Q26: If all columns balance upon completion of
Q130: If interim financial statements are required, adjusting
Q131: The current ratio<br>A) Is current assets divided
Q132: The items that follow appeared in the
Q133: A work sheet can be prepared manually
Q134: Sharp's post-closing trial balance has debit totals
Q135: Current Liabilities<br>A) Are listed in order of
Q137: The alphabetized adjusted trial balance for
Q139: When closing the Withdrawals account<br>A) The income
Q140: The current ratio<br>A) Is used to measure