Multiple Choice
A company failed to record unrealized gains of $20 million on its trading security investments.Its tax rate is 30%.As a result of this error,total shareholders' equity would be:
A) Understated by $14 million.
B) Understated by $7 million.
C) Understated by $20 million
D) Unaffected.
Correct Answer:
Verified
Correct Answer:
Verified
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