At the end of the fiscal year, the following adjusting entries were omitted:
(a)No adjusting entry was made to transfer the $1,750 of prepaid insurance from the asset account to the expense account.
(b)No adjusting entry was made to record accrued fees of $525 for services provided to customers.Assuming that financial statements are prepared before the errors are discovered, indicate the effect of each error, considered individually, by inserting the dollar amount in the appropriate spaces. Insert "0" if the error does not affect the item.? 
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Definitions:
Diseconomies Of Scale
Diseconomies of Scale arise when a company or business grows so large that the costs per unit increase, leading to inefficiency and increased production costs.
Utilization
The ratio of the actual output of a facility to its potential output under full capacity, usually expressed as a percentage.
Efficiency
Actual output as a percent of effective capacity.
Effective Capacity
The maximum output level that an organization can sustain under normal conditions, considering the limitations of time, resources, and constraints.
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