If a Company Fails to Make an Adjusting Entry to Record

question 133

Multiple Choice

If a company fails to make an adjusting entry to record supplies expense, then

• A) equity will be understated.
• B) expense will be understated.
• C) assets will be understated.
• D) net income will be understated.

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Definitions:

Generalizations

A process in reasoning where broader conclusions are drawn from specific cases or examples.

Stereotyping

The act of ascribing generalized and often inaccurate or oversimplified characteristics to members of a group.

Prejudice

Preconceived opinion that is not based on reason or actual experience, often directed towards people or groups based on their identity.

Evidence

Information or facts that are used to support the validity of an assertion, argument, or claim.