Destinyoliver3748 Destinyoliver3748

22-04-2024
Business

Answered

What is the effect on the financial statements when a company fails to adjust the unearned revenue account for revenues earned at year-end?
a. net income is understated and assets are understated
b. revenues are understated and liabilities are understated
c. net income is understated and liabilities are overstated
d. revenues are understated and stockholders' equity is overstated

Answer :

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