Question: Question 9 In 2 0 2 1 , the internal auditors of Hazelnut Technologies, Inc., discovered that the 2 0 2 0 accrued salaries of

Question 9
In 2021, the internal auditors of Hazelnut Technologies, Inc., discovered that the 2020 accrued salaries of 521 milion were not recognized until they were paid in 2021. As a result of this error, which of the following is true of Hatemury 2020 financial statements:
Expenses overstated; Net income understated.
None of the options listed.
Liabilities overstated; Retained earnings overstated.
Liabilities overstated; Retained earnings understated.
Expenses understated; Retained earnings overstated.
Question 9 In 2 0 2 1 , the internal auditors of

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