Multiple Choice
Due to an oversight,the company bookkeeper made no adjusting entry for accrued and unpaid employee wages of $24,000 on December 31.This oversight would:
A) Understate net income by $24,000.
B) Have no effect on net income.
C) Overstate net income by $24,000.
D) Overstate liabilities.
E) Have no effect on the balance sheet.
Correct Answer:
Verified
Correct Answer:
Verified
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