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For which of the following types of adjusting entries are liabilities understated and expenses understated before the adjusting entry is made? a. Accrued Expenses b.

For which of the following types of adjusting entries are liabilities understated and expenses understated before the adjusting entry is made?

a. Accrued Expenses

b. Unearned Revenues

c. Accrued Revenues

d. Prepaid Expenses

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