What Will Be the Result If No Adjusting Entry Is

question 56

Multiple Choice

What will be the result if no adjusting entry is made to record revenue earned during the current period when the cash was received in the last accounting period?

• A) The assets will be understated.
• B) The liabilities will be understated.
• C) The liabilities will be overstated.
• D) The assets will be overstated.

---

Definitions:

Individual

Pertains to a single human being as distinct from a group, class, or family.

Kohlberg

Lawrence Kohlberg proposed a theory of moral development consisting of six stages within three levels, indicating how individuals' abilities to judge right from wrong evolve through their lifetime.

Moral Development

The process through which individuals evolve in their understanding of ethics and morality, shaping their behavior and attitudes towards what is right or wrong.

Ethical Arguments

Discussions or considerations regarding what is morally right or wrong, often reflecting societal norms or personal values.