Question: Which statement about adjusting entries is false? a. Before an adjusting entry for prepaid expense is recorded, assets will be overstated and expenses will be

Which statement about adjusting entries is false? a. Before an adjusting entry for prepaid expense is recorded, assets will be overstated and expenses will be understated. b. Adjusting entries are often made because some business events are not recorded as they occur. c. Adjusting entry would adjust a revenue transaction so it is reported when the revenue is earned. d. Adjusting entries are recorded in the general journal but are not posted to the accounts in the general ledger

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