Question: If a company does not make an adjusting entry for supplies used this period, then Net Income will be and Assets will be Answer with

If a company does not make an adjusting entry for supplies used this period, then
Net Income will be
and
Assets will be
Answer with Understated (too low) or Overstated (too high)
Net Income will be understated and Assets will be overstated
Net Income will be overstated and Assets will be understated
Net Income will be overstated and Assets will be overstated
Net Income will be understated and Assets will be understated
If a company does not make an adjusting entry for supplies

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