APA Exam CPP-Remote Topic 7 Question 51 Discussion

Actual exam question for APA's CPP-Remote exam

Question #: 51
Topic #: 7

[All CPP-Remote Questions]

What is the effect of failing to record salaries that are earned but not paid at the end of an accounting period?

Aunderstatement of expenses for the period

Boverstatement of expenses for the period

Cunderstatement of assets for the period

Doverstatement of liabilities for the period

Show Suggested Answer

Suggested Answer: A

by Latia at Jul 16, 2024, 07:06 AM

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Annette

4 months ago

I disagree with Almeta, as not recording salaries would actually lead to understatement of expenses.

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Almeta

4 months ago

B) overstatement of expenses for the period

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Jeffrey

4 months ago

I think Pa is correct because if salaries are not recorded, expenses will be understated.

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Fabiola

4 months ago

B) overstatement of expenses for the period. Wait, no, that can't be right. Ugh, accounting is such a headache.

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Sylvie

3 months ago

D) overstatement of liabilities for the period

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Lilli

3 months ago

C) understatement of assets for the period

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Isidra

3 months ago

D) overstatement of liabilities for the period

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Christene

3 months ago

B) overstatement of expenses for the period. It can be confusing, but it's important to get it right.

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Sabrina

3 months ago

C) understatement of assets for the period

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Buffy

4 months ago

A) understatement of expenses for the period

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Mozell

4 months ago

B) overstatement of expenses for the period

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Adria

4 months ago

A) understatement of expenses for the period

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Carlota

5 months ago

This question is a total joke. It's like asking what 2 + 2 is. Everyone knows the answer is D) overstatement of liabilities for the period.

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Hershel

3 months ago

Actually, I believe it's D) overstatement of liabilities for the period.

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Lasandra

3 months ago

No, I'm pretty sure it's B) overstatement of expenses for the period.

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Stefania

3 months ago

I think the answer is A) understatement of expenses for the period.

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Derick

3 months ago

D) overstatement of liabilities for the period

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Bettye

3 months ago

C) understatement of assets for the period

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Kimberely

4 months ago

B) overstatement of expenses for the period

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Willodean

4 months ago

A) understatement of expenses for the period

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Laurena

5 months ago

A) understatement of expenses for the period. I'm pretty sure that's how it works, but I'm open to being corrected.

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Lashanda

5 months ago

D) overstatement of liabilities for the period. Duh, it's basic accounting 101. How can anyone not know this?

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Clemencia

4 months ago

B) overstatement of expenses for the period

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Antonette

4 months ago

A) understatement of expenses for the period

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Pa

5 months ago

A) understatement of expenses for the period

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Annette

5 months ago

What is the effect of failing to record salaries that are earned but not paid at the end of an accounting period?

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