Multiple Choice
A credit to a liability account was posted as a credit to an expense account. This error would cause:
A) assets to be overstated.
B) liabilities to be overstated.
C) expenses to be overstated.
D) liabilities to be understated.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q52: A debit may signify a(n):<br>A) increase in
Q53: Identify whether a debit or credit would
Q54: A credit to an asset account was
Q55: The Accounts Payable account is:<br>A) a capital,
Q56: Identify the normal balance for each of
Q58: Bill, owner of Bill's Golf Center, withdrew
Q59: An account that would be increased by
Q60: The Salaries Payable account has total debit
Q61: What would be the effect on the
Q62: A list of all the accounts from