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If a company fails to recognize revenue earned because the payment has not yet been received, which of the following statements is correct? This represents

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If a company fails to recognize revenue earned because the payment has not yet been received, which of the following statements is correct?

This represents a deferral and failing to record the proper adjusting entry will result in equity that is understated and assets that are understated.

This represents a deferral and failing to record the proper adjusting entry will result in earnings that are understated and assets that are overstated.

This represents an accrual and failing to record the proper adjusting entry will result in earnings that are understated and assets that are overstated.

This represents an accrual and failing to record the proper adjusting entry will result in equity that is understated and assets that are understated.

QUESTION 6 if a company fails to recognize revenue eamed because the payment has not yet beenved which of the following statements is correct This represents a deferral and filling to record the proper adjusting your andre har dette This represents a deferral and forbing to record the proper usting entry willing that understands that are over This represents an accrual and failing to record the propor adjusting entry willings that are understated and assets that coverad This represents an accrual and failing to record the proper adjusting entry will result in equity that is understated and assets the rounded

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