Which of the following statements is false?
a. If supplies consumed totaled $3,000 and no adjustments were made, both assets and stockholder's equity would be overstated by $3,000.
b. If an accountant failed to record depreciation expense of $1,500, both assets and stockholder's equity would be overstated by $1,500.
c. If insurance of $450 expired during the month and no adjustments were made, both assets and stockholder's equity would be overstated by $450.
d. A company paid for an insurance premium of $6,000 on January 1. The insurance is for a year. Failing to make adjustments for the month of January would overstate assets and stockholder's equity by $6,000.
e. All of the statements are true.