What Will Be the Result If No Adjusting Entry Is

question 21

Multiple Choice

What will be the result if no adjusting entry is made to record revenue earned during the current period when the cash was received in the last accounting period?

• A) The liabilities will be overstated.
• B) The assets will be overstated.
• C) The assets will be understated.
• D) The liabilities will be understated.

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