SlideShare a Scribd company logo
1 of 1
Download to read offline
QUESTION 50 Big Service Company received its electric bill for December on December 31
but failed to make an entry.As a result O assets are overstated. O net income is overstated O
liabilities are overstated. O owners' equity is understated. O None of the above.
Solution
Answer : Net income will be overstated.
If expenses were not recorded in profit and loss account then income will be overstated.

More Related Content

More from info309708

How do you evaluate your own global mind set levelsSolutionAN.pdf
How do you evaluate your own global mind set levelsSolutionAN.pdfHow do you evaluate your own global mind set levelsSolutionAN.pdf
How do you evaluate your own global mind set levelsSolutionAN.pdf
info309708
 
Getting StartedCreate a class called Lab8. Use the same setup for .pdf
Getting StartedCreate a class called Lab8. Use the same setup for .pdfGetting StartedCreate a class called Lab8. Use the same setup for .pdf
Getting StartedCreate a class called Lab8. Use the same setup for .pdf
info309708
 
For this homework, you will develop a class called VendingMachine th.pdf
For this homework, you will develop a class called VendingMachine th.pdfFor this homework, you will develop a class called VendingMachine th.pdf
For this homework, you will develop a class called VendingMachine th.pdf
info309708
 
Describe the differences between the three major physical connection .pdf
Describe the differences between the three major physical connection .pdfDescribe the differences between the three major physical connection .pdf
Describe the differences between the three major physical connection .pdf
info309708
 
Create a student record management system using linked list and queu.pdf
Create a student record management system using linked list and queu.pdfCreate a student record management system using linked list and queu.pdf
Create a student record management system using linked list and queu.pdf
info309708
 
C programming. Answer question only in C code Ninth Deletion with B.pdf
C programming. Answer question only in C code Ninth Deletion with B.pdfC programming. Answer question only in C code Ninth Deletion with B.pdf
C programming. Answer question only in C code Ninth Deletion with B.pdf
info309708
 
Aside from the expansion of industrial capitalism, what factors affe.pdf
Aside from the expansion of industrial capitalism, what factors affe.pdfAside from the expansion of industrial capitalism, what factors affe.pdf
Aside from the expansion of industrial capitalism, what factors affe.pdf
info309708
 
Which of the following is not true about prokaryotes 1) They are th.pdf
Which of the following is not true about prokaryotes  1) They are th.pdfWhich of the following is not true about prokaryotes  1) They are th.pdf
Which of the following is not true about prokaryotes 1) They are th.pdf
info309708
 
what is the relationship between information hiding as an attribute .pdf
what is the relationship between information hiding as an attribute .pdfwhat is the relationship between information hiding as an attribute .pdf
what is the relationship between information hiding as an attribute .pdf
info309708
 
What are the biggest threats to a network in terms of security and w.pdf
What are the biggest threats to a network in terms of security and w.pdfWhat are the biggest threats to a network in terms of security and w.pdf
What are the biggest threats to a network in terms of security and w.pdf
info309708
 

More from info309708 (20)

How do you evaluate your own global mind set levelsSolutionAN.pdf
How do you evaluate your own global mind set levelsSolutionAN.pdfHow do you evaluate your own global mind set levelsSolutionAN.pdf
How do you evaluate your own global mind set levelsSolutionAN.pdf
 
Here are two datasetsDataset A 64 65 66 68 70 71 72Dataset B .pdf
Here are two datasetsDataset A 64 65 66 68 70 71 72Dataset B .pdfHere are two datasetsDataset A 64 65 66 68 70 71 72Dataset B .pdf
Here are two datasetsDataset A 64 65 66 68 70 71 72Dataset B .pdf
 
Getting StartedCreate a class called Lab8. Use the same setup for .pdf
Getting StartedCreate a class called Lab8. Use the same setup for .pdfGetting StartedCreate a class called Lab8. Use the same setup for .pdf
Getting StartedCreate a class called Lab8. Use the same setup for .pdf
 
For this homework, you will develop a class called VendingMachine th.pdf
For this homework, you will develop a class called VendingMachine th.pdfFor this homework, you will develop a class called VendingMachine th.pdf
For this homework, you will develop a class called VendingMachine th.pdf
 
Discuss what is SSH and the advantages and disadvantages of using it.pdf
Discuss what is SSH and the advantages and disadvantages of using it.pdfDiscuss what is SSH and the advantages and disadvantages of using it.pdf
Discuss what is SSH and the advantages and disadvantages of using it.pdf
 
Describe the differences between the three major physical connection .pdf
Describe the differences between the three major physical connection .pdfDescribe the differences between the three major physical connection .pdf
Describe the differences between the three major physical connection .pdf
 
Create a student record management system using linked list and queu.pdf
Create a student record management system using linked list and queu.pdfCreate a student record management system using linked list and queu.pdf
Create a student record management system using linked list and queu.pdf
 
Coca-Cola companyStrategic Goals and Objectivesi. Objectives are.pdf
Coca-Cola companyStrategic Goals and Objectivesi. Objectives are.pdfCoca-Cola companyStrategic Goals and Objectivesi. Objectives are.pdf
Coca-Cola companyStrategic Goals and Objectivesi. Objectives are.pdf
 
C programming. Answer question only in C code Ninth Deletion with B.pdf
C programming. Answer question only in C code Ninth Deletion with B.pdfC programming. Answer question only in C code Ninth Deletion with B.pdf
C programming. Answer question only in C code Ninth Deletion with B.pdf
 
Biology LabThe poisonous wastes of diptheria germs are called (A).pdf
Biology LabThe poisonous wastes of diptheria germs are called (A).pdfBiology LabThe poisonous wastes of diptheria germs are called (A).pdf
Biology LabThe poisonous wastes of diptheria germs are called (A).pdf
 
Aside from the expansion of industrial capitalism, what factors affe.pdf
Aside from the expansion of industrial capitalism, what factors affe.pdfAside from the expansion of industrial capitalism, what factors affe.pdf
Aside from the expansion of industrial capitalism, what factors affe.pdf
 
Yates (2009) notes that unions have a purpose broader than serving t.pdf
Yates (2009) notes that unions have a purpose broader than serving t.pdfYates (2009) notes that unions have a purpose broader than serving t.pdf
Yates (2009) notes that unions have a purpose broader than serving t.pdf
 
write a C program for blinking light using function make sure it.pdf
write a C program for blinking light using function make sure it.pdfwrite a C program for blinking light using function make sure it.pdf
write a C program for blinking light using function make sure it.pdf
 
Which of the following is not true about prokaryotes 1) They are th.pdf
Which of the following is not true about prokaryotes  1) They are th.pdfWhich of the following is not true about prokaryotes  1) They are th.pdf
Which of the following is not true about prokaryotes 1) They are th.pdf
 
Which mitotic microtubules radiate outward from centrosome into the r.pdf
Which mitotic microtubules radiate outward from centrosome into the r.pdfWhich mitotic microtubules radiate outward from centrosome into the r.pdf
Which mitotic microtubules radiate outward from centrosome into the r.pdf
 
What type of motion best describes flexion of the trunk about the hi.pdf
What type of motion best describes flexion of the trunk about the hi.pdfWhat type of motion best describes flexion of the trunk about the hi.pdf
What type of motion best describes flexion of the trunk about the hi.pdf
 
what is the relationship between information hiding as an attribute .pdf
what is the relationship between information hiding as an attribute .pdfwhat is the relationship between information hiding as an attribute .pdf
what is the relationship between information hiding as an attribute .pdf
 
What is FERPA How does this impact youSolutionFERPA- FER.pdf
What is FERPA How does this impact youSolutionFERPA- FER.pdfWhat is FERPA How does this impact youSolutionFERPA- FER.pdf
What is FERPA How does this impact youSolutionFERPA- FER.pdf
 
What form of market efficiency do you think that the U. S. financial.pdf
What form of market efficiency do you think that the U. S. financial.pdfWhat form of market efficiency do you think that the U. S. financial.pdf
What form of market efficiency do you think that the U. S. financial.pdf
 
What are the biggest threats to a network in terms of security and w.pdf
What are the biggest threats to a network in terms of security and w.pdfWhat are the biggest threats to a network in terms of security and w.pdf
What are the biggest threats to a network in terms of security and w.pdf
 

Recently uploaded

Spellings Wk 4 and Wk 5 for Grade 4 at CAPS
Spellings Wk 4 and Wk 5 for Grade 4 at CAPSSpellings Wk 4 and Wk 5 for Grade 4 at CAPS
Spellings Wk 4 and Wk 5 for Grade 4 at CAPS
AnaAcapella
 
The basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptxThe basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptx
heathfieldcps1
 
Transparency, Recognition and the role of eSealing - Ildiko Mazar and Koen No...
Transparency, Recognition and the role of eSealing - Ildiko Mazar and Koen No...Transparency, Recognition and the role of eSealing - Ildiko Mazar and Koen No...
Transparency, Recognition and the role of eSealing - Ildiko Mazar and Koen No...
EADTU
 

Recently uploaded (20)

Sensory_Experience_and_Emotional_Resonance_in_Gabriel_Okaras_The_Piano_and_Th...
Sensory_Experience_and_Emotional_Resonance_in_Gabriel_Okaras_The_Piano_and_Th...Sensory_Experience_and_Emotional_Resonance_in_Gabriel_Okaras_The_Piano_and_Th...
Sensory_Experience_and_Emotional_Resonance_in_Gabriel_Okaras_The_Piano_and_Th...
 
FICTIONAL SALESMAN/SALESMAN SNSW 2024.pdf
FICTIONAL SALESMAN/SALESMAN SNSW 2024.pdfFICTIONAL SALESMAN/SALESMAN SNSW 2024.pdf
FICTIONAL SALESMAN/SALESMAN SNSW 2024.pdf
 
Spellings Wk 4 and Wk 5 for Grade 4 at CAPS
Spellings Wk 4 and Wk 5 for Grade 4 at CAPSSpellings Wk 4 and Wk 5 for Grade 4 at CAPS
Spellings Wk 4 and Wk 5 for Grade 4 at CAPS
 
On_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptx
On_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptxOn_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptx
On_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptx
 
The basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptxThe basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptx
 
How to Add a Tool Tip to a Field in Odoo 17
How to Add a Tool Tip to a Field in Odoo 17How to Add a Tool Tip to a Field in Odoo 17
How to Add a Tool Tip to a Field in Odoo 17
 
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptxHMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
 
Towards a code of practice for AI in AT.pptx
Towards a code of practice for AI in AT.pptxTowards a code of practice for AI in AT.pptx
Towards a code of practice for AI in AT.pptx
 
Transparency, Recognition and the role of eSealing - Ildiko Mazar and Koen No...
Transparency, Recognition and the role of eSealing - Ildiko Mazar and Koen No...Transparency, Recognition and the role of eSealing - Ildiko Mazar and Koen No...
Transparency, Recognition and the role of eSealing - Ildiko Mazar and Koen No...
 
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptxHMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
 
How to Manage Call for Tendor in Odoo 17
How to Manage Call for Tendor in Odoo 17How to Manage Call for Tendor in Odoo 17
How to Manage Call for Tendor in Odoo 17
 
OS-operating systems- ch05 (CPU Scheduling) ...
OS-operating systems- ch05 (CPU Scheduling) ...OS-operating systems- ch05 (CPU Scheduling) ...
OS-operating systems- ch05 (CPU Scheduling) ...
 
Details on CBSE Compartment Exam.pptx1111
Details on CBSE Compartment Exam.pptx1111Details on CBSE Compartment Exam.pptx1111
Details on CBSE Compartment Exam.pptx1111
 
80 ĐỀ THI THỬ TUYỂN SINH TIẾNG ANH VÀO 10 SỞ GD – ĐT THÀNH PHỐ HỒ CHÍ MINH NĂ...
80 ĐỀ THI THỬ TUYỂN SINH TIẾNG ANH VÀO 10 SỞ GD – ĐT THÀNH PHỐ HỒ CHÍ MINH NĂ...80 ĐỀ THI THỬ TUYỂN SINH TIẾNG ANH VÀO 10 SỞ GD – ĐT THÀNH PHỐ HỒ CHÍ MINH NĂ...
80 ĐỀ THI THỬ TUYỂN SINH TIẾNG ANH VÀO 10 SỞ GD – ĐT THÀNH PHỐ HỒ CHÍ MINH NĂ...
 
Exploring_the_Narrative_Style_of_Amitav_Ghoshs_Gun_Island.pptx
Exploring_the_Narrative_Style_of_Amitav_Ghoshs_Gun_Island.pptxExploring_the_Narrative_Style_of_Amitav_Ghoshs_Gun_Island.pptx
Exploring_the_Narrative_Style_of_Amitav_Ghoshs_Gun_Island.pptx
 
Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...
Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...
Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...
 
REMIFENTANIL: An Ultra short acting opioid.pptx
REMIFENTANIL: An Ultra short acting opioid.pptxREMIFENTANIL: An Ultra short acting opioid.pptx
REMIFENTANIL: An Ultra short acting opioid.pptx
 
How to setup Pycharm environment for Odoo 17.pptx
How to setup Pycharm environment for Odoo 17.pptxHow to setup Pycharm environment for Odoo 17.pptx
How to setup Pycharm environment for Odoo 17.pptx
 
How to Manage Global Discount in Odoo 17 POS
How to Manage Global Discount in Odoo 17 POSHow to Manage Global Discount in Odoo 17 POS
How to Manage Global Discount in Odoo 17 POS
 
How to Create and Manage Wizard in Odoo 17
How to Create and Manage Wizard in Odoo 17How to Create and Manage Wizard in Odoo 17
How to Create and Manage Wizard in Odoo 17
 

QUESTION 50 Big Service Company received its electric bill for Decemb.pdf

  • 1. QUESTION 50 Big Service Company received its electric bill for December on December 31 but failed to make an entry.As a result O assets are overstated. O net income is overstated O liabilities are overstated. O owners' equity is understated. O None of the above. Solution Answer : Net income will be overstated. If expenses were not recorded in profit and loss account then income will be overstated.