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What is the impact on the financial statements

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Reference no: EM133005856

Problem 1: What is the impact on the financial statements if an adjusting entry for accrual income is not made?

Select one:

a. Income understated and profit understated
b. Income overstated
c. Expenses understated and profit understated
d. Expenses understated and profit overstated

Reference no: EM133005856

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