A Debit to an Expense Account Was Posted to an Asset

question 75

Multiple Choice

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

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

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Definitions:

Doukhobors

A spiritual Christian group of Russian origin known for their pacifism and communal living practices.

Ecclesia

A term often used to describe a dominant religious organization that is recognized as the national or state religion.

Roman Catholicism

A major denomination of Christianity, led by the Pope, with doctrines and practices based on the Bible and Roman Catholic tradition.

Hinduism

A major world religion originating on the Indian subcontinent, characterized by a diverse array of beliefs, practices, and sects.