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Which of the following is not an accurate description of how failure to re- cord an accrual is likely to be found? a. An expense
Which of the following is not an accurate description of how failure to re- cord an accrual is likely to be found? a. An expense that was not accrued is paid, but there is no payable b. A revenue that was not accrued is received, but there is no receiv- c. A review of the trial balance reveals that an asset or liability ac- on the books as there should be. able on the books as there should be. count that is normally present after accruals are recorded is not present All above statements are accurate descriptions of how failure to re- cord an accrual is likely to be found
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