Which of the following errors would most likely lead to an overstatement of income?
A) Recording revenue in the next period when the cash is collected although it is earned in the current year.
B) Recording an expense incurred in this year when the cash is paid next year.
C) Failure to adjust deferred rent revenue account for the portion of rent earned this year.
D) Failure to adjust prepaid expenses account for the portion of insurance expired this year.

Question

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The Answer of Which of the following errors would most likely lead to an overstatement of income?
A) Recording revenue in the next period when the cash is collected although it is earned in the current year.
B) Recording an expense incurred in this year when the cash is paid next year.
C) Failure to adjust deferred rent revenue account for the portion of rent earned this year.
D) Failure to adjust prepaid expenses account for the portion of insurance expired this year.

Which of the Following Errors Would Most Likely Lead to an Overstatement