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LekaFEV [45]
2 years ago
6

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

Business
1 answer:
ivann1987 [24]2 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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Holding everything else constant, a decrease in the price of bicycles will result in a. a decrease in the quantity of bicycles d
vladimir2022 [97]

Answer:

d. an increase in the quantity of bicycles demanded.

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2 years ago
In a new margin account, a customer buys 1,000 shares of ABC stock at $40 per share. The stock rises to $50 during the next week
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Answer:

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