Multiple Choice
Ending inventory for the year ended December 31, 2011, is understated by $8,000. How will this affect net income for 2011?
A) Net income will be understated by $8,000.
B) Net income will be overstated by $8,000.
C) Net income will be understated by $16,000.
D) Net income will be overstated by $16,000.
Correct Answer:
Verified
Correct Answer:
Verified
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