The Return of Merchandise Was Recorded as a Debit to Accounts

question 24

Multiple Choice

The return of merchandise was recorded as a debit to Accounts Payable and a credit to Purchases.This error would cause:

• A)the period end assets to be understated.
• B)the period end liabilities to be understated.
• C)the period's net income to be understated.
• D)None of these is correct.