The Failure to Adjust a Prepaid Expense That Has Partially

Multiple Choice

The failure to adjust a prepaid expense that has partially expired and was originally recorded by debiting a prepaid expense for the entire amount will usually result in an

A) Understatement of assets and an understatement of expenses
B) Overstatement of assets and an overstatement of expenses
C) Understatement of assets and an overstatement of expenses
D) Overstatement of assets and an understatement of expenses