I have a question I don't understand. A credit to an asset account was posted to a revenue account. This error would cause? If you posted it as a credit to revenue, the revenue would be overstated, since revenue increase with a credit. Asset account would be overstated because a credit will take away from the asset. But what I don't understand is that both answers are on the test and I answered that the revenue would be overstated and I got it wrong. It also has expenses would be overstated. It also has that assets and expenses would be overstated. Can someone explain this to me. I am going over accounting to make sure I understand this so I can do my final. Thank you
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