The Accountant for Noble Jewelry Repair Services Forgot to Make

question 99

Multiple Choice

The accountant for Noble Jewelry Repair Services forgot to make an adjusting entry for Depreciation expense for the current year.What is the effect of this error on total assets?

• A) Total assets are understated.
• B) Total assets are not affected.
• C) Total assets are overstated.
• D) There is not enough information presented to answer the question.

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