A debit to the Capital account was posted to a revenue account. This would cause
A) assets to be understated.
B) liabilities to be overstated.
C) capital to be understated.
D) revenue to be understated.
Correct Answer:
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Q124: The trial balance lists the accounts
A) alphabetically.
B)
Q125: The informal listing of the ledger accounts
Q126: If the debit and credit totals of
Q127: A running balance is maintained in the
Q128: A debit to a liability account was
Q130: If the business records a number as
Q131: A credit to an asset account was
Q132: A debit to the Capital account was
Q133: The same information is contained in the
Q134: A debit to an expense account was
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