A Credit to an Asset Account Was Posted to the Capital

question 1

Multiple Choice

A credit to an asset account was posted 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.

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Definitions:

Performance Strategies

Plans and approaches developed to enhance the efficiency, productivity, and success of an individual, team, or organization in achieving their goals.

Work Assignments

Tasks or projects designated to individuals or groups as part of their job responsibilities or roles.

Functional Operating Team

A group of individuals organized around specific tasks or functions, working together efficiently towards common objectives.

Specialized

Having a particular area of expertise or concentrating on a specific subject, occupation, activity, or field of study.