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The accountant for Sparks Electric failed to make an adjusting entry to record $3,000 of telephone expenses for the last two months of the year.Which of the following statements is true?
Common Law
A body of unwritten law derived from judicial decisions and case law, forming a significant part of the legal system in England, the United States, and other countries following the English tradition.
Food And Drugs Act
A law that sets standards for the safety and purity of food, drugs, cosmetics, and other related products to protect the public health.
Improperly Labelled
A situation where a product's packaging or labeling does not accurately describe its contents or fails to meet regulatory standards.
Liable
Legally responsible for an action or a debt.
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