What is the effect of the omission on accrued liabilities


On December 31, 2008, special insurance costs, incurred but unpaid, were not recorded. If these insurance costs were related to work in process, what is the effect of the omission on accrued liabilities and retained earnings in the December 31, 2008 balance sheet?

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Accounting Basics: What is the effect of the omission on accrued liabilities
Reference No:- TGS078744

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