Multiple Choice
At 31 December 2014, the end of their accounting year, the Zanzibar trading company understated ending inventory by $4,250. The profit for 2014 will be:
A) understated.
B) correctly stated.
C) overstated.
D) dependant on whether or not the inventory increased during 2014.
Correct Answer:
Verified
Correct Answer:
Verified
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