If an Adjustment for Revenue That Has Been Earned but Not

question 85

Multiple Choice

If an adjustment for revenue that has been earned but not recorded was not made

• A)net income and assets would be understated
• B)liabilities and owners' equity would be understated
• C)assets and owners' equity would be overstated
• D)revenues and liabilities would be overstated

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Definitions:

Psychosexual Theory

A theory proposed by Sigmund Freud that suggests human development occurs in a series of fixed stages, each characterized by sexual pleasure centered on a particular part of the body.

Oral

Pertaining to the mouth or oral phase in psychosexual development, where pleasure is centered on oral activities such as sucking and biting.

Psychosexual Theory

A theory proposed by Freud suggesting that psychological development in childhood takes place in a series of fixed psychosexual stages.

Infancy

The period in a human's life from birth to the age of walking and talking; the earliest stage of childhood.