The Adjustment for Accrued Wages Was Not Done; This Would

question 109

Multiple Choice

The adjustment for accrued wages was not done; this would cause

• A) liabilities to be overstated.
• B) liabilities to be understated.
• C) expenses to be overstated.
• D) net income to be understated.

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Definitions:

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, organizing human needs into a five-level pyramid, from basic physiological needs to self-actualization.

Physiological Needs

The basic, essential life needs such as food, water, and shelter that must be met in order for an individual to survive and function properly.

Safety Needs

The second level in Maslow's hierarchy of needs, encompassing the human desire for security, safety, and physical well-being.

Managerial Ethics

Principles and standards that guide behavior in the world of business, including fairness, honesty, and integrity.