The Accountant for Jones Auto Repair Company Failed to Make

question 113

Multiple Choice

The accountant for Jones Auto Repair Company failed to make an adjusting entry to record $5,000 of unpaid salaries for the last 2 weeks of the year.Which of the following is TRUE?

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

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Definitions:

Primary Appraisal

The initial evaluation process where an individual assesses the significance of a stressor as irrelevant, benign-positive, or stressful.

Secondary Appraisal

This part of the stress-coping process involves evaluating one's resources and options for dealing with a potential stressor after its initial assessment.

Good Mood

A positive emotional state characterized by feelings of joy, contentment, and well-being.

Preexisting Knowledge

Information or understanding that an individual already possesses before encountering new information or experiences.