Business

Ellen Vega

20 July, 22:17

Providing services to a credit customer was recorded with a debit to cash and a credit to retained earnings. This error would cause ...

A. the periods end liabilities to be understated.

B. the periods net income to be overstated (wrong answer)

C. the total periods end stockholders equity to be understated.

D. the periods net income to be understand

+5

Answers (1)

Know the Answer?

Not Sure About the Answer?

Get an answer to your question ✅ “Providing services to a credit customer was recorded with a debit to cash and a credit to retained earnings. This error would cause ... A. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.

Search for Other Answers

You Might be Interested in

Businesses should customize invoices to best detail the products or services they provide. A True B. False

Which of the following correctly describes GDP using the income approach? A) GDP = Consumption + Gross Investment + Net Exports + Government Purchases B) GDP = Wages + Rents + Interest + Profits and Losses + National Income C) GDP =

According to Bruce Scagel, which of the following is NOT one of the four principles necessary to ensure a successful training effort? a. Duration: Training should be ongoing. b.

What is one reason why a government will deliberately inflate its national money supply?

What does a person's will list? A. What should happen to their finances after they die B. What their plan for retirement is C. What types of insurance they have D. What their current financial goals are

New Questions in Business

Which of the following is a example of successive approximation? A. giving negative reinforcement for each mistake a student makes. B. giving positive reinforcement when a student completes an assignment correctly. C.

Shoeleather costs arise when higher inflation rates induce people to:a. spend more time looking for bargains. b. spend less time looking for bargains. c. hold more money. d. hold less money.

Using Likert-type scale items, Professor Weston developed an index to assess job morale. Weston administered the index to 2,000 workers and found that 1/3 responses were missing on each of the items.

What does the boilerplate of a press release do? A. Summarizes the information that is included in the press release B. Lists employment opportunities at a company or organization C.

The 10% bonds payable of Nixon Company had a net carrying amount of $2,850,000 on December 31, 2017. The bonds, which had a face value of $3,000,000, were issued at a discount to yield 12%.