Question 31 (1 point) If wages payable decreased during the period, it means wage expense was less than payments to employees for work done during the period. Truc False Question 32 (1 point) Errors may exist in a trial balance even though the trial balance column totals agree. Which of the following errors would have the trial balance column totals disagree? A transaction is not journalized. Incorrect accounts are used in journalizing A journal entry is posted twice. Only the debit side of the journal entry is recorded. Question 33 (1 point) A contra asset account is added to a related asset account on the balance sheet. Truc False Question 34 (1 point) Which statement is correct regarding qualitative characteristics? Information must be available before it loses its ability to influence users' decisions Numbers that are casily verifiable with a reasonable degree of accuracy are called soft numbers. | Full discussion of the Intormation presented is a substitute for reliable information O Financial information must be of sufficient quality and clarity that even uninformed readers can understand it Question 3 (1 point) If accounts receivable increased during the period, it means credit sales were less than cash received from customers for payment of their accounts receivable. True False Previous Page Next Page Page 7 of 8