An error in posting may cause a. Income to be overstated or understated on the income statement.
Question:
An error in posting may cause
a. Income to be overstated or understated on the income statement.
b. A business to pay too much to a vendor.
c. Cash on hand to be less than the balance in the cash account.
d. All of the above.
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When cost of goods sold is overstated inventory and net incom...View the full answer
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Hardik Dudhat
I am semi-qualified Chemical Engineering ,I have scored centum in accounting in my senior secondary and in my graduation. I have always helped my fellow students with their concerns on the subject, i have tutored on various tutoring sites in the past and also have taken home tuitions for degree and MBA students. As a tutor, I don't want my students to just get a solution, I want them to understand the concept and never have a doubt in that area thereon and i believe in excelling and not in educating.
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