If an Accountant Fails to Make an Adjusting Entry at the End

Multiple Choice

If an accountant fails to make an adjusting entry at the end of a fiscal period to record expired insurance, the omission will cause

A) total assets to be understated.
B) total expenses to be understated.
C) total revenue to be understated.
D) liabilities to be overstated.
E) liabilities to be understated.