Question: Failure to make an adjusting entry to recognize accrued rent revenue would cause an understatement of assets, net income, and stockholders' equity. an overstatement of

Failure to make an adjusting entry to recognize accrued rent revenue would cause

an understatement of assets, net income, and stockholders' equity.

an overstatement of assets and stockholders' equity and an understatement of net income.

no effect on assets, liabilities, net income, nor stockholders' equity.

an overstatement of assets, net income, and stockholders' equity.

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