The Entry to Adjust Salaries Was Done Twice

question 19

Multiple Choice

The entry to adjust salaries was done twice. This error would cause:

• A) assets to be understated.
• B) liabilities to be overstated.
• C) revenue to be understated.
• D) assets to be overstated.

---

Definitions:

Monthly Basis

A term referring to events or calculations repeated or measured every month.

Round Answers

The process of adjusting the decimal places of a number to simplify it, based on specific rounding rules.

Simple Interest

Interest calculated on the principal portion of a loan or deposit, using a simple calculation that does not compound.

Monthly Basis

An occurrence or calculation that happens every month.