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Author Question: The adjusting entry to adjust supplies was omitted at the end of the year. This would affect the ... (Read 94 times)

mrsjacobs44

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on: Jul 5, 2018
The adjusting entry to adjust supplies was omitted at the end of the year. This would affect the income statement by having
 a. expenses understated and therefore net income overstated
  b. revenues understated and therefore net income understated
  c. expenses understated and therefore net income understated
  d. expenses overstated and therefore net income understated

Question 2

When materials or supplies that have been ordered are received, what budgetary account is credited?
 
  A. Undelivered orders.
  B. Appropriations.
  C. Expended appropriationsunpai d.
  D. Appropriations used.


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brittiany.barnes

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Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

C


mrsjacobs44

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

ecabral0

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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