The Accounts of a Business, Before an Adjusting Entry Is

question 88

Multiple Choice

The accounts of a business, before an adjusting entry is made to record accrued revenue, reflect an:

• A)understated liability and an overstated revenue.
• B)overstated asset and an understated revenue.
• C)understated expense and an overstated revenue.
• D)understated asset and an understated revenue.