A Tired Accountant Failed to Record the Adjusting Entry for Accrued

question 18

Multiple Choice

A tired accountant failed to record the adjusting entry for accrued salaries. How does this error affect net income?

• A)The assets for the period will be understated.
• B)The net income for the period will be understated.
• C)The net income for the period will be overstated.
• D)The net income for the period will not be affected.

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Definitions:

Implicit Memory

A type of memory in which previous experiences aid in the performance of a task without conscious awareness of these previous experiences.

Reconstructive

Pertaining to the process of rebuilding or forming an approximation of past events or experiences, often used in the context of memory.

Sir Frederic Bartlett

A British psychologist and the first professor of experimental psychology at the University of Cambridge, known for his work on memory and cognitive psychology.

Wax Tablet

An ancient writing surface made of wood covered with a layer of wax, used for writing with a stylus.