Multiple Choice
A company failed to report the $600,000 additional liability for its underfunded pension plan.Its tax rate is 30%.As result of this error,retained earnings would be:
A) Unaffected.
B) Overstated by $600,000.
C) Overstated by $420,000.
D) Overstated by $180,000.
Correct Answer:
Verified
Correct Answer:
Verified
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