If the Credit Amount of an Entry to Record the Purchase

question 90

Multiple Choice

If the credit amount of an entry to record the purchase of supplies on account was not posted:

• A)liabilities would be unaffected.
• B)assets would be understated.
• C)owner's equity would be understated.
• D)liabilities would be understated.

---

Definitions:

Grams

In the metric system, it's the unit of mass equivalent to 0.001 kilograms.

Metric Tons

A unit of mass equal to 1,000 kilograms or approximately 2,204.6 pounds, commonly used in measuring weight in many countries outside the United States.

Crop of Tomatoes

The yield of tomatoes produced in a farming or gardening operation during a single growing season.

Pound

A standard of measurement for mass frequently utilized in both the US and the British imperial systems, corresponding to 0.453592 kilograms.