A debit to a liability account was posted to a revenue account.This error would cause:

Name: A debit to a liability account was posted to a revenue account.This error would cause:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Posting a debit to a liability account to a revenue account would result in an overstatement of revenue and an understatement of liability. This would lead to an inaccurate representation of the company's financial position and performance, as revenues would be overstated and liabilities understated.

A Debit to a Liability Account Was Posted to a Revenue