Multiple Choice
In 2019,ending inventory is overstated.What is the effect of the error on net income in 2019 and 2020?
A) Net income is overstated in 2019 and understated in 2020.
B) Net income is understated in 2019 and overstated in 2020.
C) Net income is understated in 2019 and 2020.
D) Net income is overstated in 2019 and 2020.
Correct Answer:
Verified
Correct Answer:
Verified
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