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Question 87

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Use the following information for questions.
Hudson, Inc.is a calendar-year corporation.Its financial statements for the years 2011 and 2010 contained errors as follows: Use the following information for questions. Hudson, Inc.is a calendar-year corporation.Its financial statements for the years 2011 and 2010 contained errors as follows: -Assume that the proper correcting entries were made at December 31, 2010.By how much will 2011 income before taxes be overstated or understated? A) $1,000 understated B) $1,000 overstated C) $2,000 overstated D) $5,000 overstated
-Assume that the proper correcting entries were made at December 31, 2010.By how much will 2011 income before taxes be overstated or understated?


A) $1,000 understated
B) $1,000 overstated
C) $2,000 overstated
D) $5,000 overstated

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