If a Company Fails to Make an Adjusting Entry to Record

question 251

Multiple Choice

If a company fails to make an adjusting entry to record supplies expense then

• A) owner's equity will be understated.
• B) expense will be understated.
• C) assets will be understated.
• D) net income will be understated.

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Definitions:

Promoter

A region of DNA that initiates transcription of a particular gene, typically located near the transcription start sites of genes.

Inducer

A molecule that binds to a repressor protein, converting it to its inactive form, which is unable to prevent transcription.

Lactose

A disaccharide sugar found in milk and dairy products, which is broken down into glucose and galactose by the enzyme lactase.

Lac Operon

A set of genes and their control sequences that are responsible for the metabolism of lactose in bacteria.