The accounts of a business have been prepared, but no adjustments have been made for accrued expenses

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The accounts of a business have been prepared, but no adjustments have been made for accrued expenses at the end of the year.

What effect will these omissions have on the accounts?

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Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

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Question Posted: Aug 27, 2023 09:15 AM

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The accounts of a business have been prepared, but no adjustments have been made for accrued expenses

Question:

Net profit A overstated Current assets Current liabilities no effect understated B understated no effect. overstated rested understated no effect C D understated overstated no effect

Step by Step Answer:

The correct answer is A overstated The omission of adjustments for accrued expenses at the end of th...View the full answer

Accounting A Level And AS Level

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