menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    College Accounting Study Set 2
  4. Exam
    Exam 12: Completion of the Accounting Cycle for a Merchandise Company
  5. Question
    The Ending Merchandise Inventory Was Overstated
Solved

The Ending Merchandise Inventory Was Overstated

Question 114

Question 114

Multiple Choice

The ending merchandise inventory was overstated. This error would cause:


A) net income to be understated.
B) revenue to be understated.
C) net income to be overstated.
D) Cost of Goods Sold to be overstated.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q109: The entry to close the Withdrawal account

Q110: The excess of net revenue over the

Q111: The amount found in the Income Statement

Q112: Johnson Supplies has $530,000 in net sales

Q113: Determine the beginning inventory of a business

Q115: To determine how much merchandise a company

Q116: The calculation of Net Purchases does NOT

Q117: In what category in a classified balance

Q118: In the process of closing entries, the

Q119: Closing entries:<br>A) are posted to the general

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines