Multiple Choice
During the preparation of the worksheet, the $5,000 balance of the Sam, Withdrawal account was extended as a debit to the income statement columns. This error will:
A) overstate net income $5,000.
B) understate net income $5,000.
C) overstate net income $10,000.
D) understate net income $10,000.
Correct Answer:
Verified
Correct Answer:
Verified
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