Multiple Choice
Ending inventory is incorrectly calculated in the current year.It is accurately calculated at the end of the next year.The error in the ending inventory in the current year:
A) affects only income statement accounts.
B) affects only balance sheet accounts.
C) can be ignored since it will self-correct.
D) is a self-correcting error.
Correct Answer:
Verified
Correct Answer:
Verified
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