Multiple Choice
Two separate errors affected Source Documenting in 20X3.The beginning inventory was overstated by $17,000 and the ending inventory was overstated by $23,000.Ignoring taxes,net income in 20X3 will be:
A) overstated by $40,000.
B) understated by $23,000.
C) overstated by $23,000.
D) overstated by $6,000.
E) understated by $40,000.
Correct Answer:
Verified
Correct Answer:
Verified
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