View Policies Current Attempt in Progress Tamarisk, Inc. purchased a one-year insurance policy in January 2016 for $43680. The insurance policy is in effect from March 2016 through February 2017. If the company neglects to make the proper year-end adjustment for the expired insurance: O net income and assets will be understated by $7280. O net income and assets will be understated by $36400. O net income and assets will be overstated by $7280. O net income and assets will be overstated by $36400. Save for Later Attempts: 0 of 1 used Submit