What is the combined effect on net income of a $25,000 understatement error to ending...
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What is the combined effect on net income of a $ understatement error to ending inventory for the twoyear period if the error is not corrected? Select answer from the options below Net income will be overstated by $ Net income will be understated by $ The errors are cumulative and the total net income error will be double. The errors cancel out and the total net income for the two periods will be correct
What is the combined effect on net income of a $ understatement error to ending inventory for the twoyear period if the error is not corrected?
Select answer from the options below
Net income will be overstated by $
Net income will be understated by $
The errors are cumulative and the total net income error will be double.
The errors cancel out and the total net income for the two periods will be correct
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