What will be the result if the adjusting entry to record the current period's depreciation on equipment is not recorded?

Question

Quizplus · Accepted Answer

If the adjusting entry to record the current period's depreciation on equipment is not recorded, the net income for the period will be overstated because the cost of the equipment is not being properly allocated to the periods in which it is used. This overstatement of net income can lead to incorrect financial statements and misinterpretation of the company's financial health.

What Will Be the Result If the Adjusting Entry to Record