A Tired Accountant Failed to Record the Adjusting Entry for Salaries

question 13

Multiple Choice

A tired accountant failed to record the adjusting entry for salaries. How does this error affect net income?

• A)The net income for the period will be overstated.
• B)The net income for the period will be understated.
• C)The net income for the period will not be affected.
• D)The assets for the period will be understated.

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Definitions:

Kalanchoe

A genus of succulent flowering plants that are known for their unique water retention capabilities and often used in decorative gardening.

Chlorophytum

A genus of perennial flowering plants, commonly known as spider plants, notable for their easy care and air-purifying qualities.

Asexually

The process by which an organism can reproduce and generate offspring without the need for a mating partner, resulting in a genetic clone of the parent.

Suckers

An organ in some animals specialized for adhesion, or a shoot from the base of a plant stem that can develop into a new plant.