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The accountant failed to make the adjusting entry to record the unpaid wages of its...

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Accounting

The accountant failed to make the adjusting entry to record the unpaid wages of its employees as of December 31. This error will cause

an understatement of liabilities and an overstatement of shareholders' equity.

an overstatement of assets, liabilities, and shareholders' equity.

an understatement of expenses, liabilities, and shareholders' equity.

an understatement of assets and liabilities.

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