A Credit to a Liability Account Was Posted to an Owner's

question 40

Multiple Choice

A credit to a liability account was posted to an owner's equity account. This would cause

• A) assets to be overstated.
• B) liabilities to be understated.
• C) owner's equity to be understated.
• D) net income to be overstated.

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Definitions:

Comprehensive Programs

Initiatives or plans that are thorough and inclusive, covering multiple aspects or areas of a particular need or problem.

Teen Sexual Behavior

Activities related to sexuality and sexual expression among teenagers, including exploration, intercourse, and the development of sexual identity.

Sex Education

The process of acquiring information and forming attitudes, beliefs, and values about identity, relationships, and intimacy.

Participant Bias

A form of response bias where study participants alter their behavior or responses based on their perceptions of what constitutes appropriate behavior.