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Accounting

If a company failed to make the end-of-period adjustment to remove from the Unearned Management Fees account the amount of management fees that were earned, this omission would cause:

A. An overstatement of net income

B. An overstatement of assets

C. An overstatement of liabilities

D. An overstatement of equity

E. An understatement of liabilities

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M977970

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