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.