Failure to Prepare an Adjusting Entry at the End of the Period

question 77

Multiple Choice

Failure to prepare an adjusting entry at the end of the period to record an accrued expense would cause

• A) net income to be understated.
• B) an overstatement of assets and an overstatement of liabilities.
• C) an understatement of expenses and an understatement of liabilities.
• D) an overstatement of expenses and an overstatement of liabilities.

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Definitions:

Sibling

A person's brother or sister, related by blood, adoption, or marriage.

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of DNA, carrying genetic information.

Genes

Units of heredity made up of DNA that govern the characteristics or traits that organisms inherit from their parents.

Human Body

The physical structure of a human being, comprising various biological systems and organs.