Usually,failure to record a liability means failure to record a(n)
A) revenue.
B) dividend.
C) expense.
D) current asset.

Name: Usually,failure to record a liability means failure to record a(n) A) revenue. B) dividend. C) expense. D) current asset.
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Question

Quizplus · Accepted Answer

Failure to record a liability means failure to record the obligation to pay for an expense. This could result in an understated expense and an overstatement of net income. Therefore, the correct answer is C.

Usually,failure to Record a Liability Means Failure to Record A(n)