The purchase of an office computer has been debited to Office Expenses instead of to Office Equipment.
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The purchase of an office computer has been debited to Office Expenses instead of to Office Equipment. What effect will this have on the Balance Sheet?
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Fixed assets A no effect B no effect C understated D understated Profit understated understated no effect understated Capital no effect understated understated no effect
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The correct answer is D understated The purchase of an office computer being debited to Office E...View the full answer
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