Multiple Choice
A company made no adjusting entry for accrued and unpaid employee wages of $28,000 on December 31. This oversight would:
A) Understate net income by $28,000.
B) Overstate net income by $28,000.
C) Have no effect on net income.
D) Overstate assets by $28,000.
E) Understate assets by $28,000.
Correct Answer:
Verified
Correct Answer:
Verified
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