If the credit to record the purchase of supplies on account is not posted,
A: Liabilities will be understated.
B: Expenses will be overstated.
C: Assets will be understated.
D: Stockholders’ equity will be understated.
A: Liabilities will be understated.
B: Expenses will be overstated.
C: Assets will be understated.
D: Stockholders’ equity will be understated.
举一反三
- Net assets A: Overstated by $90 B: Understated by $90 C: Overstated by $180 D: Understated by $180
- Mr. Write gives a cash discount of $40 to a customer. The discount is credited to the discounts allowed account.The effect of recording the discount in this way is that profit will be: A: correct B: overstated by $80 C: understated by $80 D: understated by $40
- According to the expanding of accounting equation, the debit side record the increase of ( ) A: Assets B: Liabilities C: Owner’s equity D: Expenses
- COHERENT () A: logical B: understated C: overheard D: audible E: persistent
- Stock purchased was debited incorrectly to the motor vehicles account. The effect on the profit and loss account would be ？ A: Asset unaffected B: Asset understated C: Profit unaffected D: Profit affected