Asked by Caroline Zoufaly on Apr 28, 2024
Verified
Balance incorrectly computed
A) Trial balance preparation errors
B) Account balance errors
C) Posting errors
Challenging
Journalizing
The act of recording business transactions in the journal, forming the initial step of the accounting cycle.
Posting Process
The act of transferring entries from a journal to the corresponding accounts in the ledger.
Balance Incorrectly
This term does not align with a standard accounting key term, so its accuracy as a finance or accounting term is questionable. NO.
- Discern and group different types of inaccuracies during the journalizing and posting processes.
Verified Answer
RG
Reymundo GutierrezMay 03, 2024
Final Answer :
B
Explanation :
Balance incorrectly computed refers to account balance errors, which occur when the balance in an account is calculated incorrectly either during journalizing or posting. Trial balance preparation errors refer to errors made in the process of preparing the trial balance, and posting errors refer to errors made when recording transactions to the wrong account or with the wrong amount during posting. Therefore, the best choice is B.
Learning Objectives
- Discern and group different types of inaccuracies during the journalizing and posting processes.