Failure to prepare the adjusting entry for depreciation will result in: O assets being overstated and expenses being overstated. assets being understated and liabilities being overstated. O assets being understated and owner's equity being understated. O assets being overstated and expenses being understated.

Failure to prepare the adjusting entry for depreciation will result in: assets being overstated and expenses being overstated. assets being understated and liabilities being overstated. assets being understated and owner's equity being understated. assets being overstated and expenses being understated