A credit to an asset account was posted as a credit to the Revenue account. This error would cause:
A) revenue to be overstated.
B) liabilities to be overstated.
C) capital to be understated.
D) Both A and C are correct.

Question

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The Answer of A credit to an asset account was posted as a credit to the Revenue account. This error would cause:
A) revenue to be overstated.
B) liabilities to be overstated.
C) capital to be understated.
D) Both A and C are correct.

A Credit to an Asset Account Was Posted as a Credit