Question
The accountant failed to make the adjusting entry to record the depreciation for the year. This error would cause a. an understatement of shareholders' equity.
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The accountant failed to make the adjusting entry to record the depreciation for the year. This error would cause
a. an understatement of shareholders' equity.
b. an understatement of liabilities.
c. an overstatement of expenses.
d. an overstatement of assets.
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Financial Accounting
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
7th Edition
1118725786, 978-1118725788
