Question 2 of 40

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Online Exam 5_05 Return to Assessment List Part 1 of 2 - Lesson 4 Questions 42.5/ 50.0 Points Question 1 of 40 2.5/ 2.5 Points A credit customer paid $850 toward his accounts receivable. The accountant recorded a credit to the revenue account. This error would cause __________. A. revenue to be understated B. cash to be overstated C. accounts receivable to be overstated D. liabilities to be understated
Question 2 of 40 2.5/ 2.5 Points A compound transaction was recorded as follows: debit Equipment, $5,000; debit Cash, $1500; credit Accounts Payable, $3,500. This error would cause __________.
Question 3 of 40 2.5/ 2.5 Points Which of the following errors would cause the trial balance to be out of balance?
Question 4 of 40 2.5/ 2.5 Points The purpose of the trial balance is __________.
Question 5 of 40 0.0/ 2.5 Points A debit to a liability account was posted to a revenue account. This error would cause __________. A. revenues to be understated B. liabilities to be understated C. capital to be overstated D. None of the above answers are correct.
Question 6 of 40 2.5/ 2.5 Points Given the following list of accounts with normal balances, what are the trial balance totals of the
debits and credits? Cash $1000 Equipment 500 Accounts Payable 350 Capital 900 Service Fees 1000 Salaries Expense 750
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 __________.

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