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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
A company's accountant capitalized a payment that should have been recorded as a revenue expenditure. How will this error affect the company's financial statements?
A) Liabilities will be understated.
B) Assets will be understated.
C) Revenues will be understated.
D) Net income will be overstated.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Mrgo-breedMrgo-breed
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7 years ago
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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#3
7 years ago
Happy to help Smiling Face with Open Mouth
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#4
3 years ago
thank you
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