A credit to a liability account was posted as a debit to the Revenue account. This error would cause:
A) Liability to be overstated.
B) Revenue to be understated.
C) Revenue to be overstated.
D) None of the above is correct.

Question

Quizplus · Accepted Answer

A credit to a liability account was posted as a debit to the Revenue account. This error would cause Revenue to be understated.

A Credit to a Liability Account Was Posted as a Debit