Multiple Choice
In 2019,ending inventory is overstated.What is the effect of the error on total stockholders' equity in 2019 and 2020?
A) Total stockholders' equity is overstated in 2019 and 2020.
B) Total stockholders' equity is understated in 2019 and 2020.
C) Total stockholders' equity is overstated in 2019 and correctly stated at the end of 2020.
D) Total stockholders' equity is overstated in 2019 and understated in 2020.
Correct Answer:
Verified
Correct Answer:
Verified
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