Question

With respect to the balancing of an account, which one of these statements is false?

a) if the total on the credit side was the larger, the balance is a credit.
b) dollar signs are always used to designate a balance amount.
c) footings of each side of the account are needed to determine the balance.
d) if the total on the debit side was the larger, the balance is a debit.

Answer 1

The false statement is that dollar signs are always used to designate a balance amount.

Step-by-step explanation:

The false statement regarding the balancing of an account is option b) dollar signs are always used to designate a balance amount.

In accounting, dollar signs are not always used to designate a balance amount. Instead, positive amounts are usually written without dollar signs, while negative amounts are enclosed in parentheses. This is known as the parentheses convention.