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Casey L. Ratliff
on Nov 15, 2024

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The adjustment for accrued wages was NOT done; this would cause:

A) liabilities to be overstated.
B) liabilities to be understated.
C) assets to be understated.
D) net income to be understated.

Accrued Wages

Wages that have been earned by employees but have not yet been paid by the employer.

Liabilities

Financial obligations or debts that a company owes to external parties.

Net Income

The net income of a company following the deduction of all expenses, taxes, and costs from its total revenue.

  • Understand the impact of adjustments on financial statements.
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KC
Kylie CrossNov 18, 2024
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