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The Financial Statements of Cresent Corporation for 2011 and 2012

Question 16

Multiple Choice

The financial statements of Cresent Corporation for 2011 and 2012 contained the following errors:
The financial statements of Cresent Corporation for 2011 and 2012 contained the following errors: Assuming that none of the errors were detected or corrected, by what amount will 2012 operating income be overstated or understated? A) $13,400 overstated B) $27,800 understated C) $35,800 understated D) $40,600 understated
Assuming that none of the errors were detected or corrected, by what amount will 2012 operating income be overstated or understated?


A) $13,400 overstated
B) $27,800 understated
C) $35,800 understated
D) $40,600 understated

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