Asked by Mugan Tayalan on May 29, 2024
Verified
Debit or credit posting omitted
A) Trial balance preparation errors
B) Account balance errors
C) Posting errors
Challenging
Journalizing
The act of recording financial transactions in a company's journal, detailing the accounts that are affected and in which direction.
Posting Process
The act of recording financial transactions in the appropriate accounts within the general ledger.
Debit or Credit Posting
The act of recording an entry on the left (debit) or right (credit) side of a financial account in the accounting ledger.
- Distinguish and sort out distinct errors in the journalizing and posting stages.
Verified Answer
ZK
Zybrea KnightJun 05, 2024
Final Answer :
C
Explanation :
Posting errors occur when a debit or credit entry is either omitted or posted to the wrong account. This can result in inaccurate account balances and ultimately impact the trial balance. These errors can be challenging to identify and correct.
Learning Objectives
- Distinguish and sort out distinct errors in the journalizing and posting stages.