Accounting Exam 5 - Online Exam 5_05 Return to Assessment...

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Online Exam 5_05 Return to Assessment List Part 1 of 2 - Lesson 4 Questions 37.5/ 50.0 Points Question 1 of 40 2.5/ 2.5 Points The business provided services to a cash customer. To record this __________. A. an asset is debited and a liability is credited B. an asset is debited and a revenue is credited C. an expense is debited and Capital is credited D. None of the above answers are correct.
Question 2 of 40 0.0/ 2.5 Points A withdrawal by the owner was posted to an expense account. This error would cause __________.
Question 3 of 40 2.5/ 2.5 Points Which of the following is not a financial statement?
C. Statement of owner's equity D. Trial balance Question 4 of 40 2.5/ 2.5 Points A debit to an expense account was posted to a revenue account. This error would cause __________.
Question 5 of 40 0.0/ 2.5 Points A credit to an asset account was posted to the capital account. This error would cause __________. A. assets to be overstated B. liabilities to be overstated C. capital to be understated D. Both A and C are correct.
Question 6 of 40 0.0/ 2.5 Points A debit to a liability account was posted to a revenue account. This error would cause __________.
B. liabilities to be understated C. capital to be overstated D. None of the above answers are correct. Question 7 of 40 0.0/ 2.5 Points A credit to an asset account was posted to a revenue account. This error would cause __________.
D. Both A and B are correct. Question 8 of 40 2.5/ 2.5 Points A credit to an asset account was posted to a liability account. This error would cause __________.

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