If beginning inventory is understated by $10,000, the effect of this error in the current period is Cost of goods sold - Net Income

A. Understated - Understated
B. Overstated - Overstated
C. Understated - Overstated
D. Overstated - Understated

Answer: C. Understated - Overstated

Business

You might also like to view...

Which of the following would most likely be a result of increased standardization of Cold-Aire refrigerators?

A) Cold-Aire would stop exporting refrigerators completely. B) Cold-Aire would open a facility to produce customized refrigerator models. C) Cold-Aire would implement a uniform international marketing campaign. D) Cold-Aire would hire fewer workers and pay lower wages.

Business

Where should you highlight the benefits to your reader in a routine reply or positive message?

A) At the beginning of the opening B) At the end of the opening C) In the close of the message D) In the first line of the body E) In the last line of the body

Business