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