At year end, a physical count of office supplies reveals that $$7,000$ of sup.

plies were used up but no adjusting entry was made to account for this.

If this error is found, it will most likely be because $...$

a$.$ the trial balance would be out of balance by $$7,000$

b$.$ the trial balance would be out of balance by $$14,000$

c$.$ the trial balance would be out of balance by $$3,500$

d$.$ none of the above

If the omission in question $28$ is found before the books are closed, the

adjusting entry to correct the error will include $...$

a$.$ a debit to Office Supplies Expense

b$.$ a credit to Office Supplies Expense

c$.$ a debit to Inventory

d$.$ none of the above

The type of error given in question $28$ is known as $...$

a$.$ a deferral error

b$.$ an accrual error

c$.$ a prior period error

d$.$ none of the above

OutCo failed to record depreciation on certain machinery for $20$X$1.$ This

error $...$

a$.$ affects the income statement only

b$.$ affects the balance sheet only

c$.$ affects both the income statement and the balance sheet

d$.$ affects neither the income statement nor the balance sheet

Preventing or discovering accounting errors requires knowing and using $...$

a$.$ double$-$entry bookkeeping

b$.$ internal controls

c$.$ inspection of the trial balance

d$.$ all of the above