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  3. Study Set
    Introduction to Financial Accounting
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    Exam 3: Recording Transactions
  5. Question
    Some Errors Are Counterbalanced by Off-Setting Errors in the Ordinary
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Some Errors Are Counterbalanced by Off-Setting Errors in the Ordinary

Question 94

Question 94

True/False

Some errors are counterbalanced by off-setting errors in the ordinary bookkeeping process in the next period.Such errors misstate net income in both periods.

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