A Credit to an Asset Account Was Posted to a Liability

question 110

Multiple Choice

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

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

---

Definitions:

Anatomically Modern

Describes humans who share the same range of physical characteristics as contemporary humans, typically relating to Homo sapiens species.

Homo Sapiens

The scientific name for modern humans, characterized by their ability for complex language and social structures.

Consciously Design Tools

The intentional creation or modification of tools or devices through thoughtful planning and creative thought, often to solve a specific problem.

Homo Habilis

Oldest known species in genus Homo; lived in Africa from approximately 2.5 to 1.6 mya.