What is the objective in testing for cut-off?Select one:O a. That no transactions of the current period have been delayed and recorded in a fuO b. Whether transactions are recorded in the proper period○ c. That no transactions from the prior period are included in the current period's balaO d. Whether all of the current period's transactions are recorded

Break down of the options: Option A: The objective here is to ensure that no transactions from the…

Answered: What is the objective in testing for…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section3.4: Starting A New Journal

Problem 3AYU

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Multiple choice:
Which of the following is NOT a purpose of control accounts? O a. to identify all errors where the trial balance agrees O b. to provide a total for trade receivables and trade payables О с. to verify the accuracy of the individual ledger accounts O d. to assist in the preparation of financial statements
What alternative procedures should be applied to accounts that do not return confirmations?
Which of the following errors in the journal entry will not be detected by trial balance.a) Debit part is overstated but credit part is correctly recordedb) Debit part is correctly recorded but credit part is understatedc) Both debit and credit parts are overstated by the same amountd) Debit part is correctly recorded but credit part is overstatedBoş bırak
When two digits in an amount are accidentally recorded the wrong way round will be called as: a. Error of Commission b. Error of Omission c. Error of Transposition d. Error of Principle
A trial balance, when it is not in balance, proves A. Some transactions missing from the ledger. B. All transactions have not been posted. C. Mathematical inequality of debits and credits in the ledger. D. All transactions have been recorded incorrectly. E. None of the above.
If the two totals in a trial balance are equal, does that automatically mean there are no errors in the accounting cycle? Why or why not?
Accounts often need to be adjusted because Select one: a. there are never enough accounts to record all the transactions. b. many transactions affect more than one time period. c. there are always errors made in recording transactions. d. management can’t decide what they want to report.
Which of the following is the postclosing trial balance not designed to verify?
Accounts often need to be adjusted because Select one: a. Management can't decide what they want to report. b. Many transactions affect more than one time period. c. There are never enough accounts to record all the transactions. d. There are always errors made in recording transactions.
how is the trial balance used to discover errors
Can a updated check be an negotiable instrument

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