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LekaFEV [45]
3 years ago
6

If the accountant forgets to adjust the Prepaid Expenses account, there will be:_____

Business
1 answer:
ivann1987 [24]3 years ago
7 0

Answer:

Option B, an overstatement of net income, is the right answer.

Explanation:

Option “B” is correct because when the prepaid expenses occur then it is recorded in the balance sheet on the asset side and the cash will be reduced by the same amount. However, if the prepaid expenses have not been adjusted then it will show the overstatement of net income because cash has been gone so actual cash will be lower than the recoded cash. Thus, option B is right.

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7nadin3 [17]

The correct answer to this open question is the following.

Although you forgot to include the proper context of the question or further references, we can comment on the following.

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7 0
3 years ago
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Sauron [17]

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5 0
3 years ago
Compensation for your employer over and above your income describes:
nata0808 [166]

The compensation that can be provided to the employer over and above employee's income could be an Insurance payment or accumulated Tax refund.

<h3>What is Insurance?</h3>

Insurance is a financial plan that promises to mitigate any loss suffers.

<h3>What is Tax refund?</h3>

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In conclusion, the compensation that can be provided to the employer over and above employee's income could be an Insurance payment or accumulated Tax refund.

Read more about compensation

<em>brainly.com/question/25301308</em>

6 0
3 years ago
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Wewaii [24]
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3 0
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TEA [102]
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