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21. The accountant for the Best Company did not have time to count the inventory of Supplies at year-end and did not prepare the adjusting
21. The accountant for the Best Company did not have time to count the inventory of Supplies at year-end and did not prepare the adjusting entry to record supplies used during the year. As a result A. assets and stockholders' equity would be overstated. B. liabilities and stockholders' equity would be overstated. Cassets and stockholders' equity would be understated. D. net income and stockholders' equity would be understated
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