Multiple Choice
Happy House Corporation reported net income of $425,000 for the current year. After the financial statements had been prepared, it was discovered that ending inventory had been overstated by $25,000. The correct net income was:
A) $450,000.
B) $425,000.
C) $400,000.
D) $300,000.
Correct Answer:
Verified
Correct Answer:
Verified
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