3. For each of the following oversight, state whether total assets will be under

Question

3. For each of the following oversight, state whether total assets will be understated, overstated, or not affected. 3. For each of the following oversights, state whether total assets will be understated, overstated, or not affected.
_____a. Failure to record revenue earned but not yet received
_____b. Failure to record expired rent
_____c. Failure to record accrued interest in bank
_____d. Failure to record depreciation
_____e. Failure to record accrued wages
_____f. Failure to convert unearned revenue to earned revenue.

Explanation / Answer

a. understated b. overstated c. understated d. overstated e. not affected f. not affected

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