If the accountant failed to make the end-of-period adjustment to reduce the Unearned Management Revenue account by
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Question:
If the accountant failed to make the end-of-period adjustment to reduce the Unearned Management Revenue account by the amount of management revenue earned, the omission would cause
Multiple Choice
an overstatement of assets
an overstatement of profit
an understatement of expenses
an overstatement of liabilities
an overstatement of equity
Expert Answer:
ANSWER B an overstatement of profit When an ending inventory overstatement occurs the cost of goods ... View the full answer
Related Book For 
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
Posted Date:
