If the Accountant Failed to Make an Adjusting Entry at the End

question 86

Multiple Choice

If the accountant failed to make an adjusting entry at the end of the period to record depreciation for the period, the omission will cause

• A) an overstatement of expenses
• B) an overstatement of revenues
• C) an understatement of assets
• D) an overstatement of liabilities
• E) an overstatement of assets

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Definitions:

Rater

An individual who evaluates and provides feedback on the performance of others, commonly used in contexts of employee performance reviews, assessments, and surveys.

Management-by-objectives

A performance management approach where managers and employees work together to set, record, and monitor goals for a specific period, aiming to improve organizational performance.

Performance Appraisals

An evaluative process in which the performance of an employee is periodically reviewed and discussed, aiming to identify strengths, areas for improvement, and the alignment with overall organizational goals.

Regional Manager

An individual responsible for overseeing the operations, management, and profit of multiple locations or branches within a specified geographical area.