Imagine the accounting team forgot that your company had to pay property taxes on its warehouse. Assuming the tax bill hasn’t been paid yet, where could the accounting track down this error?

Question

Imagine the accounting team forgot that your company had to pay property taxes on its warehouse. Assuming the tax bill hasn’t been paid yet, where could the accounting track down this error?

(1 point)
Responses

financial statement

financial statement

trial balance

trial balance

general ledger

general ledger

journal entry

journal entry

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1 answer
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Answer 1

Bot GPT 4-o mini answered
2 months ago

The accounting team could track down this error in the general ledger. The general ledger includes all of a company's financial transactions and accounts, so it would show whether the property tax expense was recorded.

Imagine the accounting team forgot that your company had to pay property taxes on its warehouse. Assuming the tax bill hasn’t been paid yet, where could the accounting track down this error?

The accounting team could track down this error in the **general ledger**. The general ledger includes all of a company's financial transactions and accounts, so it would show whether the property tax expense was recorded.

The accounting team could track down this error in the general ledger. The general ledger includes all of a company's financial transactions and accounts, so it would show whether the property tax expense was recorded.