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The Accountant of Omega, Inc

question 196

Multiple Choice

The accountant of Omega, Inc. failed to make an adjusting entry to record $6,000 of unearned service revenue that has now been earned. Assume the deferred revenue was initially recorded as a liability. Which of the following statements is true?

Definitions:

Overstaffed

A situation where there are more employees than necessary within an organization or team, often leading to inefficiency and increased costs.

Understaffed

The situation of having fewer staff members than needed to operate effectively, often leading to increased workload and stress for existing employees.

Overstaffing

The condition of having more employees than necessary, which can lead to reduced efficiency and increased costs.

Divide the Group

A strategy or process of separating a larger group into smaller groups or teams, often to facilitate focus, manageability, or diversity of thought.