How Many of the Following Statements Regarding Posting and Classification

question 145

Multiple Choice

How many of the following statements regarding posting and classification are true?

• A)Posting journal entries involves copying the dollar amounts from the ledger into the journal.
• B)If a $100 debit is erroneously posted to an account as a $100 credit,the accounts will be out of balance by $100.
• C)If a $5,000 liability is misclassified as stockholders' equity then the accounting equation will still balance.
• D)If a purchase of supplies on account for $100 is recorded with a debit to supplies of $10 and a credit to accounts payable for $10,the accounting equation will not balance.