Multiple Choice
Koppell Co. made the following errors in counting its year-end physical inventories:
As a result of the above undetected errors, 2011 income was
A) understated by $18,000.
B) overstated by $198,000.
C) overstated by $18,000.
D) understated by $198,000.
Correct Answer:
Verified
Correct Answer:
Verified
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