24) Depreciation expense was not recorded during fiscal year 2020. No related entry(ies) were made before the financial statements were distributed.

The effect on Retained Earnings at fiscal year-end 2020 is:

		Understated
		Overstated
		No Effect

25)

Failed to record the declaration (only) of a $3M cash dividend during fiscal year 2020. No related entry(ies) were recorded before the financial statements were distributed.

The effect on current assets at fiscal year-end 2020 is:

		Understated
		Overstated
		No Effect