题目
Merchandise inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the error?A. owner's equity is overstatedB. net income is understatedC. gross profit is understatedD. cost of merchandise sold is overstated
Merchandise inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the error?
A. owner's equity is overstated
B. net income is understated
C. gross profit is understated
D. cost of merchandise sold is overstated
题目解答
答案
A. owner's equity is overstated