Failure to Make an Adjusting Entry to Recognize Accrued Salaries

question 47

Multiple Choice

Failure to make an adjusting entry to recognize accrued salaries payable would cause which of the following?

• A)an understatement of expenses and liabilities and an overstatement of shareholders' equity.
• B)an overstatement of expenses and liabilities.
• C)an understatement of expenses,liabilities and shareholders' equity.
• D)an understatement of assets and shareholders' equity.

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Definitions:

Homo Sapiens

The scientific name for modern humans, a species known for complex brain development, upright posture, and advanced social behaviors.

Molecular Evidence

Information obtained from the molecular level, including DNA, RNA, and protein sequences, used to support hypotheses in various scientific fields such as phylogeny, evolutionary biology, and medicine.

Sexual Dimorphism

Marked phenotypic differences between the two sexes of the same species.

Australopithecus Anamensis

Australopithecus anamensis is an extinct hominin species that lived approximately 4.2 to 3.9 million years ago, and is one of the early ancestors of humans.