Multiple Choice
If a $15,000 purchase of equipment for cash is incorrectly recorded as an increase to equipment and as an increase to cash, at the end of the period assets will:
A) exceed liabilities and stockholders' equity by $15,000.
B) equal liabilities and stockholders' equity.
C) exceed liabilities and stockholders' equity by $30,000.
D) exceed liabilities and stockholders' equity by $40,000.
Correct Answer:
Verified
Correct Answer:
Verified
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