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H3Ko H3Ko
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7 years ago
The accountant for Belden Jewelry Repair Services, Inc. forgot to make an adjusting entry for Depreciation Expense for the current year. Which of the following is an effect of this error?
A) Total assets are understated.
B) Net income is understated.
C) Total assets are overstated.
D) Revenues are overstated.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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TanksTanks
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H3Ko Author
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#2
7 years ago
I just realized you had posted this! Thanks so much
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4 years ago
Thank you!
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3 years ago
thank you
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