Question: Select all that apply Not recording an accrued expense will have the following effect on the financial statements: (Check all that apply). a) liabilities on

Select all that apply

Not recording an accrued expense will have the following effect on the financial statements: (Check all that apply).

a) liabilities on the balance sheet will be understated.

b) liabilities on the balance sheet will be overstated.

c) expenses on the income statement will be overstated.

d) expenses on the income statement will be understated.

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