Failure to Record a Liability Will Probably

question 100

Multiple Choice

Failure to record a liability will probably

• A) result in an overstated net income.
• B) result in overstated total liabilities and owner's equity.
• C) have no effect on net income.
• D) result in understated total assets.

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an attitude of doubt or a disposition to incredulity either in general or toward a particular object.

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