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Failure to prepare an adjusting entry at the endof the period to record an accrued expense would cause:
Failure to prepare an adjusting entry at the end
of the period to record an accrued expense would cause:
An understatement of expenses and an understatement of liabilities
Profit to be understated
An overstatement of expenses and an overstatement of liabilities
An overstatement of assets and an overstatement of liabilities
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