What Is the Impact of Overstating an Accrued Expense During

question 119

Multiple Choice

What is the impact of overstating an accrued expense during the 2013 fiscal year?

• A)There is no effect on 2013 income.
• B)Net income for 2013 will be overstated.
• C)Current liabilities for 2013 will be understated.
• D)Ending retained earnings for 2013 will be understated.

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