A Debit to a Liability Account Was Posted as a Debit

question 119

Multiple Choice

A debit to a liability account was posted as a debit to the Capital account.This error would cause:

• A)assets to be overstated.
• B)liabilities to be overstated.
• C)capital to be overstated.
• D)None of the above is correct.

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Definitions:

Inner Beliefs

Core personal convictions or accepting something as true without immediate empirical evidence, shaping one’s perception and response to the world.

Public Behaviors

Actions or conduct displayed by individuals in social settings or public places, which are influenced by societal norms, culture, and laws.

Autokinetic Effect

A visual illusion where a stationary point of light in a dark environment appears to move due to small involuntary eye movements.

Processes Of Conformity

The psychological mechanisms through which individuals align their attitudes, beliefs, and behaviors with those of a group.