A Debit to a Liability Account Was Posted to an Expense

question 69

Multiple Choice

A debit to a Liability account was posted to an Expense account. This would cause:

• A) assets to be overstated.
• B) liabilities to be understated.
• C) owner's equity to be overstated.
• D) expenses to be understated.

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Definitions:

Potential Objections

Anticipated arguments or concerns that might be raised against a proposal, idea, or argument.

Marketing Messages

Communications aimed at informing, persuading, or reminding consumers about a product, service, or brand.

Fact Sheet

A concise presentation of key facts, figures, and points about a specific topic, often used in public relations and marketing.

Desire Phase

In marketing, the stage where a consumer develops a favorable inclination towards a product or service, following awareness and interest.