Question: 7 . On November 1 st , 2 0 2 5 , Fast Tickets sells a prepaid pass for the NBA Season that will last

7. On November 1st,2025, Fast Tickets sells a prepaid pass for the NBA Season that will last from November 1st,2025, until April 30th,2026. The initial journal entry recorded this transaction as Unearned Revenue. If the financial accountant FORGETS to make the adjusting entry on December 31st,2025, which of the following will be true: A) Assets Overstated and Net Income Understated B) Equity Overstated and Liabilities Understated C) Assets Understated and Liabilities Overstated D) Net Income Understated and Liabilities Overstated
7 . On November 1 st , 2 0 2 5 , Fast Tickets

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