Depreciation of equipment was recorded twice this period. This would: O A. overstate expenses and overstate assets. OB. understate assets and understate assets. OC. overstate expenses and understate assets. OD. understate expenses and overstate assets. If the balance of supplies at the start of the month was $1,000 and at the end of the month you had $500 on hand, the adjustment for Supplies would be: O A. $1,000 O B. $600 O C. $400 OD. $500 If Prepaid Rent Expense for the period is NOT adjusted: O A. assets will be overstated and expenses will be understated. OB. assets will be understated and expenses will be overstated. OC. assets will be overstated and expenses will be overstated. OD. revenue will be understated and expenses will be understated. The Sarbanes-Oxley Act: O A. states the need to have accurate financial reports. OB. does not allow the use of a worksheet. O c. does not allow adjusting entries. O D. requires a minimum cash balance