The adjusting entry to adjust supplies was omitted at the end of the year. This would affect the income statement by having expenses
a. overstated and therefore net income understated expenses
b. understated and therefore net income understated expenses
c. understated and therefore net income overstated revenues
d. understated and therefore net income understated
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Home » Business » The adjusting entry to adjust supplies was omitted at the end of the year. This would affect the income statement by having expenses a. overstated and therefore net income understated expenses b.