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For Each of the Following Oversights, State Whether Total Assets

Question 219

Matching

For each of the following oversights, state whether total assets will be:

Premises:
Failure to record revenue recognized but not yet received.
Failure to record expired prepaid rent.
Failure to record accrued interest on the bank savings account.
Failure to record depreciation.
Failure to record accrued wages.
Failure to record the recognized portion of unearned revenues.
Responses:
understated
overstated
no affect

Correct Answer:

Failure to record revenue recognized but not yet received.
Failure to record expired prepaid rent.
Failure to record accrued interest on the bank savings account.
Failure to record depreciation.
Failure to record accrued wages.
Failure to record the recognized portion of unearned revenues.
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