In Preparing the Financial Statements for December 31,2017,an Accountant Improperly

question 102

Multiple Choice

In preparing the financial statements for December 31,2017,an accountant improperly classified the payment of prepaid rent as rent expense.Which of the following amounts would not be affected by this improper classification?

• A)Retained earnings,January 1,2017
• B)Retained earnings,December 31,2017
• C)Net income
• D)Total assets

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Carcinoma

A form of cancer originating either on the skin surface or in the tissue layers that line or encapsulate internal organs.

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