8. What happens to the accounting equation when the adjustment from deprecation expense for the accounting period is recorded? Select one: a. Assets decrease& Liabilities decrease b. Liabilities increase & Stockholders' Equity decrease c. Assets increase & Stockholders' Equity increases d. Assets decrease & Stockholder's Equity decrease A company forgot to record four adjustments during 2012. Which one of the following omissions of adjustments will understate net income? 9. Select one a. Interest on monies borrowed has not yet been recorded. b. Prepaid insurance is not reduced for the portion of the policy that has expired during the period. c. Income taxes owed but not yet paid are ignored. d. Sales made during the last week of the period are not recorde