If Maritimes Ltd. fails to make an adjusting entry for the accrued interest, which of the following

Question:

If Maritimes Ltd. fails to make an adjusting entry for the accrued interest, which of the following will happen

a. Net income will be understated, and liabilities will be overstated.

b. Net income will be understated, and assets will be understated.

c. Net income will be overstated, and liabilities will be understated.

d. Net income will be overstated, and assets will be overstated

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