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. cost of merchandise sold is overstatedC. gross profit is understatedD. net income is understated
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. cost of merchandise sold is overstated
C. gross profit is understated
D. net income is understated
题目解答
答案
A. owner's equity is overstated