Which One of the Following Statements Is NOT Correct

Multiple Choice

Which one of the following statements is NOT correct?

A) A misclassification in the balance sheet will have no effect on operating income.
B) Either an overstatement of an asset account or an understatement of a liability account would have the same effect on the income statement.
C) Either an understatement of an asset account or an overstatement of a liability account would have the same effect on the income statement.
D) Either an overstatement of an asset account or an overstatement of a liability account would have the same effect on the income statement.