Failure to record depreciation at year-end will
A)overstate total liabilities.
B)understate assets.
C)overstate assets.
D)understate owners' equity.
E)overstate revenue.

Question

Quizplus · Accepted Answer

Failure to record depreciation at year-end will overstate the value of assets since their accumulated depreciation will not be accounted for, leading to an inaccurate portrayal of the company's financial state.

Failure to Record Depreciation at Year-End Will