Masterfalls Corporation purchased a one-year insurance policy in January 2010 for $60,000. The insurance policy is in effect from March 2010 through February 2011. If the company neglects to make the proper year-end adjustment for the expired insurance:

a. net income and assets will be understated by $10,000
b. net income and assets will be overstated by $10,000
c. net income and assets will be understated by $50,000
d. net income and assets will be overstated by $50,000

According to bowers, which of the following best describes the dominance of interest groups in the state of nevada over time? political machines dominated during the first 50 years; from 1908 to 1958 railroad and mining interests dominated; primarily gaming interests from 1958 to the present. the railroad and mining interests dominated during the first 50 years of statehood; political machines dominated from 1908 to 1958; primarily gaming interests have dominated from 1958 to present. gaming interests have always dominated. railroad and mining interests dominated from statehood until 1959; gaming interests have dominated from 1959 to present. no one interest has ever dominated at any one time.