Navas 28 April 2020 at 15:12 PM

Suppose that a company pays one of its liabilities twice during the year, in error. What are the effects of this mistake?

A) Assets and net income and owners' equity will be understated, and liabilities are overstated.

B) Assets, net income, and owners' equity will be unaffected.

C) Assets, liabilities, and owners' equity will be understated.

D) Assets and liabilities will be understated