Failure to make an adjusting entry at the end of the period to record an accrued expense would cause:

Select one:

a.Anunderstatement of expenses and an understatement of liabilities.

b.An overstatement of assets and an overstatement of liabilities.

c.Netprofit to be understated.

d.Netassets to be understated.

e.Anoverstatement of expenses and an overstatement of liabilities.

Capitalattheendoftheperiodisequalto:

Select one:

a.Net Assets less Equity.

b.Assetsplusliabilities.

c.Capital at the beginning of the period plus net profit minus drawings.

d.Netprofitplustotalassets.

e.Capital at the beginning of the period plus net profit minus liabilities