If a business transaction involving the purchase of Land with cash is erroneously recorded in the books as an increase to Supplies instead of an increase to Land, what will occur: O the "books" will be out of balance and (A) will not equal (L+OE) O Supplies will be under-stated O Supplies will be over-stated Land will be over-stated

If a business transaction involving the purchase of Land with cash is erroneously recorded in the books as an increase to Supplies instead of an increase to Land, what will occur: O the "books" will be out of balance and (A) will not equal (L+OE) O Supplies will be under-stated O Supplies will be over-stated Land will be over-stated

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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