Asked by Shontae Stallworth on May 02, 2024

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Overstated accounts include:

A) items that will never be realized as cash.
B) items that were recorded twice.
C) transactions that are not recorded in both assets and liabilities.
D) money that will be collected at year end.

Overstated Accounts

Financial accounts or records reported with higher values than they actually possess, often leading to a misrepresentation of financial health.

Transactions

Acts of buying, selling, or exchanging goods, services, or financial assets in the course of business.

Assets

are resources with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

  • Comprehend the components of financial statements and their importance.
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Zybrea KnightMay 07, 2024
Final Answer :
A
Explanation :
Overstated accounts refer to assets or revenues that are recorded at a higher value than they actually are. Items that will never be realized as cash, such as inventory that has become obsolete or receivables from customers who are unlikely to pay, are examples of assets that may be overstated. Therefore, option A is the best choice. Options B, C, and D do not accurately describe overstated accounts.