The accountant of Omega Consulting, Inc. failed to make an adjusting entry to record $6,000 for unearned service revenues that were earned before the end of the fiscal year. Assume the company initially recorded a liability
Which of the following statements is true?
A) The total liabilities will be overstated.
B) The total liabilities will be understated.
C) The total assets will be overstated.
D) The total assets will be understated.
A
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The cash flow from operations to capital expenditures ratio measures a company's ability to
a. use operations to finance its acquisitions of productive assets. b. use cash flows from capital expenditure transactions to maintain working capital. c. increase its capital expenditures as a result of profitable operations. d. pay its current bills from profits made using productive assets.
A database should have exactly the same number of tables as there are Classes in the Unified Modeling Language (UML) Class diagram from which the database is developed.
Answer the following statement true (T) or false (F)
Adjusting entries are part of the measurement of net income for the period and financial position at the end of the period
Indicate whether the statement is true or false
Explicit knowledge is generally known to everyone in the firm and is not a critical concern of management.
Answer the following statement true (T) or false (F)