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:

Social Psychologists

Professionals who study how people's thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

Time Of Day

A specific moment during the 24-hour cycle, often used to reference the suitability or natural occurrence of events.

Morality

Principles concerning the distinction between right and wrong or good and bad behavior.

Virtuous Behavior

Actions that conform to moral and ethical principles; these behaviors are often associated with goodness and integrity.