A Tired Accountant Failed to Record the Adjusting Entry for Accrued

question 144

Multiple Choice

A tired accountant failed to record the adjusting entry for accrued revenues.How does this error affect the balance sheet?

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

---

Definitions:

Caudal

Pertaining to the tail or posterior part of the body, often used to describe direction in anatomy.

Proximal

Situated nearer to the center of the body or the point of attachment.

Inguinal Region

The area of the lower abdomen, located just above the groin, where the thighs meet the torso.

Groin

The area where the abdomen ends and the legs begin, often referring to the fold or crease between the thigh and abdomen.