Question: Question 7 4 points There was no adjustment made for accrued wages on 31 December. This was an error. The amount of wages eamed in

Question 7 4 points There was no adjustment made for accrued wages on 31 December. This was an error. The amount of wages eamed in December but not payable until the first week in January following year was $600. If this error is not discovered before the financial statements are prepared: assets as of 31 December will be overstated. liabilities as of 31 December will be overstated. net income will be overstated by $600. net income will be understated by $600. none of the above. Question Moving to another question will save this response

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