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If an adjusting entry is not made for an accrued expense, a. expenses will be overstated, b. liabilities will be understated. c. net income will be understated. d. equity will be understated.​
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7 votes
7 votes
If an adjusting entry is not made for an accrued expense,

a. expenses will be overstated,
b. liabilities will be understated.
c. net income will be understated.
d. equity will be understated.​

User Shuniar
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1 Answer

24 votes
24 votes

Answer:

c. net income will be understated.

User Torfbolt
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