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A company failed to record utilities consumed during the period. It will be billed for the utilities during the next accounting period.

As a result, current period assets, liabilities, equity, and income, respectively, are: a. Overstated, overstated, correct, correct b. Correct, understated, overstated, overstated c. Overstated, understated, overstated, overstated d. Overstated, understated, correct, correct

Major Accounts Accounting Cost Accounting Bank Accounting
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Question added by Khaled Mohee Eldeen Abbas Mahmoud , Chartered Accountant # 10465 , Self-employed
Date Posted: 2014/05/01
Upvote (6) Views (23) Followers (6) Answers (14) Report Question
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Meh Engelbert Kum
by Meh Engelbert Kum , Revenue Assurance Manager , Vodacom Business Africa, Cameroon

B

Srinivas Kotni ACA CMA
by Srinivas Kotni ACA CMA , Finance Controller , Ecolab

Option (b.)

Muhammad Zubair
by Muhammad Zubair , CFO / Chief Accountant , RH Group

b. Correct, understated, overstated, overstated

Muhammad Usman Ashraf
by Muhammad Usman Ashraf , VAT Accountant , Jumeirah Golf Estates

B

Zeeshan Ehtisham
by Zeeshan Ehtisham , Head of FP&A and Business Control , Tanmiah Food Group

B Should be the answer given the options

Mohsin Abbas
by Mohsin Abbas , Finance Manager , Saudi Power Transformers Company& CG Power Systems

B

Shamim Khan Dawar
by Shamim Khan Dawar , Group Finance Manager , JAWAHR | Jawa Logistics | Orient Trading(OMATRA)

B

Umer Aziz
by Umer Aziz , Senior Accountant , TERNA Bahrain Holding - GEK Group (www.terna.gr)

Option B is correct

umer zubair
by umer zubair , international sales executive , digital globe service

the correct option is B

Muhammad Hamid
by Muhammad Hamid , Manager Accounts and Taxation , Stancos Private Limited, Plastech Products Private Limited and Nature Sciences Private Limited

B

Umer Sharif
by Umer Sharif , Head Of Accounts Dept , Allied Petroleum Pvt Ltd

B

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