Failure to Prepare an Adjusting Entry at the End of the Period

question 77

Multiple Choice

Failure to prepare an adjusting entry at the end of the period to record an accrued expense would cause

• A) net income to be understated.
• B) an overstatement of assets and an overstatement of liabilities.
• C) an understatement of expenses and an understatement of liabilities.
• D) an overstatement of expenses and an overstatement of liabilities.

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