At the End of the Current Year,the Accountant for Navistar

question 137

Multiple Choice

At the end of the current year,the accountant for Navistar Graphics forgot to make an adjusting entry to accrue Wages payable to the company's employees for the last week in December.The wages will be paid to the employees in January.Which of the following is one of the effects of this error?

• A) Net income is overstated.
• B) Liabilities are overstated.
• C) Net income is understated.
• D) Expenses are overstated.

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Definitions:

Legitimate Power

Authority that is accepted as a normal part of a social role.

Referent Power

Social influence that occurs because individuals seek to be liked and accepted by valued social groups.

Emotional Appeal

A persuasive technique that targets the emotions rather than logic or reason to influence an audience’s response or behavior.

One-sided

Information or arguments presented from a single perspective without acknowledgment or consideration of alternate viewpoints.