A: Liabilities will be understated.
B: Expenses will be overstated.
C: Assets will be understated.
D: Stockholders’ equity will be understated.
举一反三
- Net assets A: Overstated by $90 B: Understated by $90 C: Overstated by $180 D: Understated by $180
- Mr. Write gives a cash discount of $40 to a customer. The discount is credited to the discounts allowed account.The effect of recording the discount in this way is that profit will be: A: correct B: overstated by $80 C: understated by $80 D: understated by $40
- According to the expanding of accounting equation, the debit side record the increase of ( ) A: Assets B: Liabilities C: Owner’s equity D: Expenses
- COHERENT () A: logical B: understated C: overheard D: audible E: persistent
- Stock purchased was debited incorrectly to the motor vehicles account. The effect on the profit and loss account would be ？ A: Asset unaffected B: Asset understated C: Profit unaffected D: Profit affected
内容
- 0
The matching principle provides guidance in accounting for ( ). A: Expenses B: Assets C: Owner’s equity D: Liabilities
- 1
Owners' equity is measured by subtracting liabilities from assets. This sentence can be described as the following equation ______. A: ASSETS - LIABILITIES + OWNER'S EQUITY B: ASSETS - LIABILITIES = OWNER'S EQUITY C: OWNER'S EQUITY = ASSETS + LIABILITIES D: OWNER'S EQUITY = LIABILITIES - ASSETS
- 2
The balance sheet reports: A: a.the assets, liabilities, gains, and losses for a period of time B: b.the changes in assets, liabilities, and equity for a period of time C: c.the assets, expenses, and liabilities as of a certain date D: dthe financial condition of an accounting entity as of a particular date
- 3
The statement of cash flows reports: A: Revenues and expenses B: Assets and liabilities C: Cash inflows and cash outflows D: Changes in equity
- 4
For example, the purchase of advertising services on account, the recording of the expense will be accompanied by an increase in . A: liabilities B: assets C: cost D: expense