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Multiple Choice If the required adjusting entry for accrued salaries is omitted: liabilities will be understated and net income overstated. assets will be overstated and

Multiple Choice

If the required adjusting entry for accrued salaries is omitted:

  • liabilities will be understated and net income overstated.

  • assets will be overstated and net income understated.

  • assets will be overstated and net income overstated.

  • liabilities will be overstated and net income understated.

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