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Failure to make an adjusting entry to recognize a deferred expense would cause an: Overstatement of assets and stockholders' equity, and an understatement of expenses.
Failure to make an adjusting entry to recognize a deferred expense would cause an:
Overstatement of assets and stockholders' equity, and an understatement of expenses.
Overstatement of expenses, assets, and stockholders' equity.
Understatement of expenses and stockholders' equity and an overstatement of assets.
Understatement of expenses, assets, and stockholders' equity.
None of the above.
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