A credit to an asset account was posted as a credit to the Capital account.This error would cause:
A)assets to be overstated.
B)liabilities to be overstated.
C)capital to be understated.
D)Both A and C are correct.

Question

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The Answer of A credit to an asset account was posted as a credit to the Capital account.This error would cause:
A)assets to be overstated.
B)liabilities to be overstated.
C)capital to be understated.
D)Both A and C are correct.

A Credit to an Asset Account Was Posted as a Credit