Failure to post an entire transaction will not be reflected in the trial balance. Select one:...

Question

Question

Failure to post an entire transaction will not be reflected in the trial balance. Select one:...

Failure to post an entire transaction will not be reflected in the trial balance.

Select one:

True

False

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Answer----------True

.

If a transaction is completely ignored from recording the error will not be reflected in trial balance because the trial balance will still tally that is the debit and credit side will be equal.

The non recording of entry will understate or overstate one or more debit or credit account.

The trial balance reflects the error if the debit and credit sides are not matched.

Add a comment

Answer 2

Similar Homework Help Questions

If the totals of the post-closing trial balance are not equal, the first step in tracking...

If the totals of the post-closing trial balance are not equal, the first step in tracking down the error is to verify postings to the ledger. Select one: True False
Please help me! I will rate highly. The post-closing trial balance may contain revenue and expense...

Please help me! I will rate highly. The post-closing trial balance may contain revenue and expense accounts Select one O True False Which of the following is not part of the conceptual framework project? Select one or more a. Quantitative characteristics b. Objectives of financial reporting c Qualitative characteristics d. Basic elements of financial statements Net income for a period appears in all but which one of the following? Select one or more: a Balance sheet b. Income Statement debit...
The post-closing trial balance will generally have fewer accounts than the trial balance. True or False

The post-closing trial balance will generally have fewer accounts than the trial balance. True or False

Which of the following accounts would not appear on the post-closing trial balance? Select one: O...

Which of the following accounts would not appear on the post-closing trial balance? Select one: O A. Cash O B. Inventory O C. Accounts receivable O D. Rent expense
If an entry is recorded twice, the error will show up in the trial balance. Select...

If an entry is recorded twice, the error will show up in the trial balance. Select one: True False
Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial...

Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial Balance July 31, 20Y0 Debit Balances Credit Balances Cash 10,400 Accounts Receivable 23,090 Supplies 1,460 Equipment 102,860 Accumulated Depreciation—Equipment 34,320 Accounts Payable 12,480 Salaries Payable 1,140 Unearned Rent 4,680 Common Stock 13,500 Retained Earnings 71,690 170,160 105,460 Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct. If an amount box does not require...

Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial...

Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial Balance July 31, 2018 Debit Balances 18,000 39,960 Credit Balances Cash Accounts Receivable Supplies 2,520 178,020 Equipment Accumulated Depreciation - Equipment 59,400 21,600 Accounts Payable Salaries Payable 1,980 Unearned Rent 8,100 Common Stock 13,500 Retained Earnings 133,920 294,480 182,520 Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct. If an amount box does...
A clinics failure pf establishing internal control mechanisms can lead to medical errors Select one O...

A clinics failure pf establishing internal control mechanisms can lead to medical errors Select one O True O False The number of physicians specializing in primary care medicine continues to increase. Select one oTrue 6.False
Which of the following is true concerning posting? Select one: a. The date of the transaction...

Which of the following is true concerning posting? Select one: a. The date of the transaction should be written in the account’s Date column. b. The page number of the journal should be written in the Post. Ref. column of the ledger account. c. The amount of the transaction should be recorded in either the debit or credit column. d. The ledger account number should be recorded in the Post. Ref. column of the journal. e. All of the answers...

Post-closing a Balance An accountant prepared the following post-dosing trial balancel Security Services Co. Post-Closing Trial...

Post-closing a Balance An accountant prepared the following post-dosing trial balancel Security Services Co. Post-Closing Trial Balance July 31, 2010 Debit Balances Balances Cash IN 188 Accounts Receivabl Supplies Equipment Accumulated Depreciation-Equip Accounts Payable Salaries Payable Unearned Rent Common Stock Retained Earnings 83 7.56 7,560 124,090 ,500 274,850 170,350 Dream corected post-closing trial balance. Assume that at all accounts have normal balances and that ected post-closing trial balance. Ass Security Services Co. Post-Closing Trial Balance July 31, 2040 Debit Balance...

Failure to post an entire transaction will not be reflected in the trial balance. Select one:...

Homework Answers

Add Answer to:
Failure to post an entire transaction will not be reflected in the trial balance. Select one:...

Post as a guest

Earn Coins

If the totals of the post-closing trial balance are not equal, the first step in tracking...

Please help me! I will rate highly. The post-closing trial balance may contain revenue and expense...

The post-closing trial balance will generally have fewer accounts than the trial balance. True or False

Which of the following accounts would not appear on the post-closing trial balance? Select one: O...

If an entry is recorded twice, the error will show up in the trial balance. Select...

Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial...

Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial...

A clinics failure pf establishing internal control mechanisms can lead to medical errors Select one O...

Which of the following is true concerning posting? Select one: a. The date of the transaction...

Post-closing a Balance An accountant prepared the following post-dosing trial balancel Security Services Co. Post-Closing Trial...

Failure to post an entire transaction will not be reflected in the trial balance. Select one:...

Homework Answers

Add Answer to: Failure to post an entire transaction will not be reflected in the trial balance. Select one:...

Post as a guest

Earn Coins

Add Answer to:
Failure to post an entire transaction will not be reflected in the trial balance. Select one:...