If a Company Failed to Make the End-Of-Period Adjustment to Remove

Multiple Choice

If a company failed to make the end-of-period adjustment to remove the amount earned from the Unearned Management Fees account,there would be:

A) An overstatement of net income
B) An overstatement of assets
C) An overstatement of liabilities
D) An overstatement of equity
E) An understatement of liabilities