On December 31, 2016, $2,500 of salaries have been earned but not yet paid to employees. If the business failed to make an adjusting entry on December 31, 2016, indicate the effect on assets, liabilities, equity, and net income

Understated, Overstated, No Effect
Assets
Liabilities
Equity
Net Income

What will be an ideal response

Understated, Overstated, No Effect
Assets No Effect
Liabilities Understated
Equity Overstated
Net Income Overstated

Business

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The declaration and payment of a dividend by a corporation causes:

A) A decrease in assets and a decrease in retained earnings B) A decrease in assets and a decrease in common stock C) A decrease in assets and an increase in retained earnings D) A decrease in assets and a decrease in liabilities. E) None of the above

Business

Many adverbs are formed by adding "-ly" to adjectives

Indicate whether the statement is true or false.

Business