The Accountant for Noble Jewelry Repair Services Forgot to Make

question 120

Multiple Choice

The accountant for Noble Jewelry Repair Services forgot to make an adjusting entry for Depreciation expense for the current year.Which of the following is one of the effects of this error?

• A) Net income is understated.
• B) Total assets are understated.
• C) Net income is overstated.
• D) Total liabilities are understated.

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Definitions:

Activated

The state of being turned on or made active, often referring to a chemical or biological process.

Gene

A unit of heredity that is transferred from a parent to offspring and is held to determine some characteristic of the offspring.

Hydrogen Atoms

A hydrogen atom consists of one proton and one electron; it is the simplest and most abundant atom in the universe.

Electrons

Subatomic particles with a negative charge, orbiting the nucleus of an atom and involved in chemical bonds and electricity.