Multiple Choice
The accountant of Residential Architectural Services failed to make an adjusting entry to record $7,000 of depreciation expense.Which of the following statements is TRUE?
A) The total liabilities will be overstated.
B) The equity will be understated.
C) The total assets will be overstated.
D) The total assets will be understated.
Correct Answer:
Verified
Correct Answer:
Verified
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