At the End of the Fiscal Year, the Usual Adjusting

question 8

Multiple Choice

At the end of the fiscal year, the usual adjusting entry for accrued salaries owed to employees was omitted. Which of the following statements is true?

• A) Salary Expense for the year was understated.
• B) The total of the liabilities at the end of the year was overstated.
• C) Net income for the year was understated.
• D) Owner's equity at the end of the year was understated.

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Definitions:

Daily Hassle

Minor everyday problems or annoyances that, while not severe, can add up to significant stress over time.

Presenteeism

The act of attending work while sick, which can lead to decreased productivity and health of coworkers.

Chronic Stressor

A persistent stress factor that continuously affects an individual, potentially leading to long-term health problems and decreased well-being.

Employee Wellness Programs

Initiatives designed by employers to support and improve the health and well-being of employees.