Southern Company's accountant failed to accrue as of 12/31/13 some employee fringe benefit program expenses that were incurred in 2013 and that will be paid in 2014. The result of this omission is to:

A).overstate the current ratio at 12/31/13 and overstate ROI and ROE for the year ended 12/31/13.
B).overstate the current ratio at 12/31/13 and understate ROI and ROE for the year ended 12/31/13.
C).understate the current ratio at 12/31/13 and understate ROI and ROE for the year ended 12/31/13.
D).not affect the current ratio at 12/31/13 but to overstate ROI and ROE for the year ended 12/31/13.

Answer rating: 100% (QA)

Option A is correct overstate the current ratio at ... View the full answer