I you record an expense will net income be understated or overstated?

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2007-06-17 12:15:51 · 2 answers · asked by joey h 1 in Business & Finance ➔ Taxes ➔ United States

Net income will only be overstated or understated if the expense is recorded incorrectly.

2007-06-17 14:15:21 · answer #1 · answered by Steve 6 · 1⤊ 0⤋

Neither. It will be correctly stated, assuming that the expense is accurately recorded.

2007-06-17 14:08:19 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋