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    Financial Accounting Study Set 13
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    Exam 8: Reporting and Interpreting Property, plant, and Equipment; Intangibles; and Natural Resources
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    An Understatement Error in the Ending Inventory Causes an Overstatement
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An Understatement Error in the Ending Inventory Causes an Overstatement

Question 27

Question 27

True/False

An understatement error in the ending inventory causes an overstatement of both profit and current assets in that year.

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