A debit to a liability account was posted to a

  • Ashworth College
  • EXAM 5
  • Test Prep
  • Yankee7903
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Question 24 of 402.5/ 2.5 PointsA debit to a liability account was posted to a revenue account. This would cause __________.A. assets to be overstatedB. liabilities to be overstatedC. capital to be overstatedD. revenue to be overstated
Question 25 of 402.5/ 2.5 PointsA debit to a revenue account was posted to an expense account. This would cause __________.
Question 26 of 402.5/ 2.5 PointsA debit to an expense account was posted to an asset account. This would cause __________.
Question 27 of 402.5 / 2.5 PointsWhich of the following entries records the acquisition of office supplies for cash?
Question 28 of 402.5/ 2.5 PointsA debit to the capital account was posted to a revenue account. This would cause __________.A. assets to be understatedB. liabilities to be overstatedC. capital to be understatedD. revenue to be understated
Question 29 of 402.5/ 2.5 PointsThe purpose of posting is to __________.
Question 30 of 402.5/ 2.5 PointsA credit to an asset account was posted to a revenue account. This would cause __________.
Question 31 of 402.5/ 2.5 PointsThe first step of the accounting cycle is __________.

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