Multiple Choice
An accountant failed to record the adjusting entry for accrued revenues.How does this error affect the balance sheet?
A) The assets at the end of the period will be overstated.
B) The assets at the end of the period will be understated.
C) The liabilities at the end of the period will be overstated.
D) The liabilities at the end of the period will be understated.
Correct Answer:
Verified
Correct Answer:
Verified
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