Failure to record which item is NOT a self-correcting (counterbalancing) error? Select one: a. Unearned Revenue b. Prepaid Expense c. Purchase of a Trademark d. Accrued Revenue
Solved
Show answers
More tips
- S Style and Beauty How to Tie a Tie Correctly: A Simple Guide...
- F Food and Cooking How to Make Polendwitsa at Home?...
- F Family and Home Parents or Environment: Who Has the Most Influence on a Child s Upbringing?...
- P Philosophy Unbelievable stories of encounters with otherworldly forces...
- L Leisure and Entertainment How to Choose the Perfect Gift for Men on February 23rd?...
- H Health and Medicine How to Treat Whooping Cough in Children?...
- H Health and Medicine Simple Ways to Lower Cholesterol in the Blood: Tips and Tricks...
- O Other How to Choose the Best Answer to Your Question on The Grand Question ?...
- L Leisure and Entertainment History of International Women s Day: When Did the Celebration of March 8th Begin?...
- S Style and Beauty Intimate Haircut: The Reasons, Popularity, and Risks...
Answers on questions: Business
- B Business The is the strategic combination of tools used to reach targeted customers to achieve marketing objectives....
- B Business 0.05:(8) What sum must be deposited today at 8 percent per year compounded monthly if the goal 5 years from today is to have a compound amount of $200,000? How much interest will be...
- S Spanish Soy ordenado, pero soy desordenado. a. tampoco b. según c. a veces d. muy...
- G Geography What is an ethnic group and how do ethnic groups relate to regions culture?...
- M Mathematics What is the value of t? t−122=3t2−3 –3 –1 1 3...
- H History What are connecticut colony motivation reasons for founding?...
- E English Acaller becomes irate and demands to speak to your manager, mrs. wilson. when you inform the caller that your manager is in a meeting, the caller says, i know she wants to be interrupted...
- E English The following question refers to “daughter of invention” by julia alvarez. which of the following best characterizes the narrator’s mother? a. the narrator’s mother wants desperately...
- S Spanish Name two definite articles and two indefinite articles in spanish. a. el, él, la ella b. el, la, un, una c. un, uno, una, ella d. él, ella, uno, una...
- M Mathematics If a system of linear equations has the unique solution (2, −3), then its graph consists of what? parallel lines lines that intersect at a single point identical lines a y-intercept...
Ответ:
C. Purchase of a trademark.
Explanation:
Counter balancing error is when an error made cancel out another error. For instance, if an expense was charged to year A instead of year B. It means that there would be an over statement of expense and understatement of profit in year A whereas year B would have an understated expense and overstated profit. The retained earning say for year C would be correct due to the fact that the two previous errors cancelled out each other. Although the two errors were correct over two year period, yet the annual net figures for both years have always been mistated.
With regards to the above, all the options except purchase of trade mark are counter balancing errors which automatically offset each other in the next accounting periods.
Ответ:
it is c I guessed that I hope its right