choose the right answer only:

On 2023-02-01, a law firm received $2,000 in cash for legal services to be performed between September 2023 and 2023 December. On 2023-02-01, the full amount was credited to the deferred revenue account. The legal services were fully performed by the law firm between September 2023 and December 2023, as planned. In the event of non-registration of an adjusting entry on 31-12-2023, this would lead to: Question 32 options:

2023 service sales products are undervalued

2023 earnings are overstated

2023 liabilities are understated

2023 deferred revenue is undervalued

choose the right answer only

Here is the data for the company ABS: net income of $120,000, accumulated amortization of fixed assets at the beginning of the period of $15,000, decrease in inventory of $6,000, positive change in customers of $7,000, decrease in suppliers of $4,000, purchase of computers of $4,600, repayment of principal on loan of $8,000, accumulated depreciation of fixed assets ized at the end of the period of $18,000. Cash flows from operating activities amount to: Question options:

$105,400

No answer fits

$118,000

$126,000

$106,000