Failure to record salaries owed but not paid at the end of an accounting period results in
A) overstated retained earnings.
B) overstated assets.
C) overstated revenue.
D) understated retained earnings.

Question

Quizplus · Accepted Answer

Failure to record salaries owed but not paid results in an understatement of liabilities and expenses, leading to overstated retained earnings.

Failure to Record Salaries Owed but Not Paid at the End