Accrued Salaries of N18,000 due to employees for December 31 2015 was omitted and not included in the financial statements prepared for the year ended 31 December 2015. Which of the following will be correct?
Assets of the company would be over-stated by N18,000
Liabilities of the company would be over-stated by N18,000
Net profit of the company would be over-stated by N18,000
Liabilities of the company would be under-stated by N18,000
