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27 August, 13:48

When making the adjustment for prepaid insurance, instead of writing off only the time that has passed the entire policy was written off. This would:

a. overstate the assets

b. overstate the liabilities

c. understate net income

d. None of the above.

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Answers (1)
  1. 27 August, 14:11
    0
    I think it's C understate net income
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