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When making the adjustment for prepaid insurance, instead of writing off only the time that has passed the entire policy was written off.This would: a. overstate the assets b. overstate the liabilities
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When making the adjustment for prepaid insurance, instead of writing off only the time that has passed the entire policy was written off.This would:

a. overstate the assets
b. overstate the liabilities
c. understate net income
d. None of the above.

User Elysia
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1 Answer

3 votes
I think it's C understate net income
User Empiric
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