Solved

Happy House Corporation Reported Net Income of $425,000 for the Current

Question 79

Multiple Choice

Happy House Corporation reported net income of $425,000 for the current year. After the financial statements had been prepared, it was discovered that ending inventory had been overstated by $25,000. The correct net income was:


A) $300,000.
B) $450,000.
C) $425,000.
D) $400,000.

Correct Answer:

verifed

Verified

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

Related Questions