Multiple Choice
If unearned revenues are initially recorded in revenue accounts and not all the related services been performed at the end of the accounting period, the failure to make an adjusting entry will cause
A) liabilities to be overstated.
B) revenues to be understated.
C) revenues to be overstated.
D) accounts receivable to be overstated.
Correct Answer:
Verified
Correct Answer:
Verified
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