On December 31,2010,Aurora Enterprises Failed to Make the Necessary Adjusting

Multiple Choice

On December 31,2010,Aurora Enterprises failed to make the necessary adjusting entry for estimated uncollectible accounts.This error would cause an:

A) understatement of net income and an understatement of liabilities
B) overstatement of net income and an understatement of liabilities
C) overstatement of net income and an overstatement of assets
D) understatement of assets and stockholders' equity