If an adjustment for revenue that has been earned but not recorded was not made
A)net income and assets would be understated
B)liabilities and owners' equity would be understated
C)assets and owners' equity would be overstated
D)revenues and liabilities would be overstated

Question

Quizplus · Accepted Answer

If the adjustment for revenue that has been earned but not recorded is not made, then the revenue would be understated, which in turn will result in the understatement of net income and assets.

If an Adjustment for Revenue That Has Been Earned but Not