If the accountant forgets to record an adjustment for Accumulated Depreciation, Building at the end of the accounting period, this will cause
A. an overstatement of assets.
B. an understatement of assets.
C. an overstatement of expenses.
D. an overstatement of liabilities.
Answer:A
If the accountant forgets to record an adjustment for Accumulated Depreciation, Building at the end of the accounting period, this will cause
A. an overstatement of assets. B. an understatement of assets. C. an overstatement of expenses. D. an overstatement of liabilities.