A Credit to an Asset Account Was Posted to an Expense

question 100

Multiple Choice

A credit to an asset account was posted to an expense account.This would cause:

• A)assets to be overstated.
• B)liabilities to be understated.
• C)capital to be understated.
• D)expenses to be understated.

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Definitions:

Scientific Evidence

Information obtained through systematic observation or experimentation that serves as a basis for knowledge or conclusions.

Health Risk

The possibility of suffering harm or loss related to health.

Incidence Rate

A measure of the frequency with which a new event, such as a new case of illness, occurs in a population over a period of time.

Policy

A course or principle of action adopted or proposed by an organization or individual, often referring to regulations and guidelines designed to influence decisions and actions.