A $130 Credit to Supplies Was Credited to Fees Earned

question 61

Multiple Choice

A $130 credit to Supplies was credited to Fees Earned by mistake. By what amounts are the accounts under- or overstated as a result of this error?

• A) Supplies, understated $130; Fees Earned, overstated $130.
• B) Supplies, overstated $130; Fees Earned, understated $130.
• C) Supplies, overstated $130; Fees Earned, overstated $130.
• D) Supplies, understated $260; Fees Earned, overstated $130.
• E) Supplies, overstated $260; Fees Earned, understated $130.

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Definitions:

Advantages and Disadvantages

The positive and negative aspects or consequences of a situation, decision, item, or policy.

Negative Cognitive Triad

A cognitive therapy concept where an individual harbors negative views about the self, the world, and the future.

Depression

A mood disorder that causes persistent feelings of sadness and loss of interest, affecting daily functioning.

Psychosocial Contributors

Factors in an individual's psychological development and social environment that contribute to their mental health and behavior.