Question
If Prepaid License Fees paid to Government for next year are wrongly recorded in expense accounts in this year, then failure to make an adjusting
If Prepaid License Fees paid to Government for next year are wrongly recorded in expense accounts in this year, then failure to make an adjusting entry will cause
| A. | accounts receivable of this year to be overstated | |
| B. | assets of this year to be overstated. | |
| C. | revenues of this year to be overstated. | |
| D. | profit of this year to be understated. |
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College Accounting Chapters 1-30
Authors: David Haddock, John Price, Michael Farina
16th Edition
1260247902, 978-1260247909
