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QUESTION 3 What is the impact of prepaid expenses before year end adjusting entries? O A. Understate assets and overstate expenses. B. Overstate assets and

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QUESTION 3 What is the impact of prepaid expenses before year end adjusting entries? O A. Understate assets and overstate expenses. B. Overstate assets and understate expenses. O C. Overstate liabilities and understate expenses. D. Understate liabilities and overstate expenses

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