Question: Failure to make an adjusting entry to recognize accrued utilities would cause an: understatement of expenses and liabilities and an overstatement of stockholders equity. overstatement

Failure to make an adjusting entry to recognize accrued utilities would cause an:

understatement of expenses and liabilities and an overstatement of stockholders equity.

overstatement of expenses and liabilities and an understatement of stockholders equity.

understatement of expenses, liabilities, and stockholders equity.

overstatement of assets, expenses, and stockholders equity.

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