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How will error impact financial statements of abc company

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Reference no: EM132594926

Question 1: ABC Company failed to make the appropriate year-end adjusting entry to record depreciation. How will this error impact the financial statements of ABC Company?

Group of answer choices

Option A. expenses will be overstated

Option B. assets will be understated

Option C. revenues will be overstated

Option D. net income will be understated

Option E. equity will be overstated

Option F. more than one of the above choices is correct

Option G. none of the above choices are correct

Reference no: EM132594926

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