A Company Replaced Tires on a Vehicle and Debited the Amount

question 162

Multiple Choice

A company replaced tires on a vehicle and debited the amount to Vehicle instead of Repairs and Maintenance Expense. Which of the following would occur because of this error?

• A)Expenses would be understated.
• B)Net income would be understated.
• C)Retained Earnings would be understated.
• D)Assets would be understated.

---

Definitions:

Predominant Interventions

Primary methods or techniques adopted in a particular therapeutic context to address and treat psychological issues.

Adlerian Counseling

A psychological approach focusing on individual psychology, emphasizing the importance of community and social interests.

Social Interest

Social interest involves a sense of community and empathy towards others, emphasizing the importance of cooperation and contribution to society's wellbeing.

Community Feeling

A sense of belonging and oneness with others, indicating a well-integrated individual in Adlerian psychology.