Which One of the Following Errors Causes Net Income to Be

question 32

Multiple Choice

Which one of the following errors causes net income to be overstated?

• A) Failure to record collection of an account receivable
• B) Failure to record depreciation expense
• C) Failure to accrue revenue earned but not billed
• D) Failure to record fees received in advance that are earned by the end of the period

Learn the types of shift instructions and their applications.

Understand the difference between macroeconomics and microeconomics, and their respective areas of study.

Distinguish between positive and normative statements in economics.

Recognize the impact of government policies and regulations on the economy.