At the End of the Current Year,the Accountant for Computer

question 205

Multiple Choice

At the end of the current year,the accountant for Computer Graphics Company forgot to make an adjusting entry to accrue Wages Payable for the company's employees for the last week in December.The wages will be paid to the employees in January.Which of the following is an effect of this error?

• A) Net income is overstated.
• B) Liabilities are overstated.
• C) Net income is understated.
• D) Expenses are overstated.

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Definitions:

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