Question
If the credit amount of an entry to record the payment of salaries was not posted: a) assets would be overstated and owners' equity would
If the credit amount of an entry to record the payment of salaries was not posted:
a) assets would be overstated and owners' equity would be overstated.
b) liabilities would be understated and owners' equity would be overstated.
c) expenses would be understated and owners' equity would be understated.
d) there would be no effect on shareholders' equity.
e) None of the above.
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International Accounting
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera
5th edition
1259747980, 9781259747984, 1260466531, 978-1260466539
