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Use the Following Information for Questions

Question 106

Multiple Choice

Use the following information for questions.
Giselle Ltd.is a calendar-year corporation.Its financial statements for the years 2018 and 2017 contained errors as follows: Use the following information for questions. Giselle Ltd.is a calendar-year corporation.Its financial statements for the years 2018 and 2017 contained errors as follows: -Assume that the proper correcting entries were made at December 31, 2017.By how much will 2018 pre-tax income be overstated or understated? A) $2,000 understated B) $2,000 overstated C) $6,000 overstated D) $8,000 overstated
-Assume that the proper correcting entries were made at December 31, 2017.By how much will 2018 pre-tax income be overstated or understated?


A) $2,000 understated
B) $2,000 overstated
C) $6,000 overstated
D) $8,000 overstated

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