The Accountant Failed to Make the Adjusting Entry to Record

question 22

Multiple Choice

The accountant failed to make the adjusting entry to record the unpaid wages of its employees as of December 31.This error will cause

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

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Definitions:

African-American

An ethnic group consisting of Americans with ancestry from the black racial groups of Africa.

European American

A term referring to Americans who trace their ancestry primarily to Europe.

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As the authoritative manual for diagnosing mental disorders, the Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, is extensively utilized by medical professionals.

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A pattern commonly observed in eating disorders, involving episodes of excessive eating followed by purging to prevent weight gain.