Multiple Choice
Inventory items purchased on credit that are correctly debited to 2013 purchases, but improperly included in the 2013 ending inventory cause:
A) 2013 assets to be understated and 2013 pre-tax income to be overstated.
B) both 2013 pre-tax income and 2013 assets to be understated.
C) both 2013 assets and pre-tax income to be overstated.
D) both accounts payable for 2013 and 2013 pre-tax income to be overstated.
Correct Answer:
Verified
Correct Answer:
Verified
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