Reference no: EM132739377
Problem 1: The three forms of business entities are:
a. Proprietorships, small businesses, and partnerships
b. Proprietorships, partnerships, and corporations
c. Proprietorships, partnerships, and large companies
d. Financial, manufacturing, and service companies
Problem 2: Which of the following will result in an out-of-balance trial balance?
a. A journal entry was not posted
b. A journal entry has overstated both debit and credit columns by equal amounts
c. A transaction was not recorded
d. A debit entry was posted to the credit side of the correct ledger account