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

question 189

Multiple Choice

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

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

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Definitions:

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A chronic condition characterized by high levels of glucose in the blood due to insulin production or function issues.

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The partial or total inability to hear sounds in one or both ears, which can be temporary or permanent.

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