If a Period-End Inventory Amount Is Reported in Error, It

question 158

Multiple Choice

If a period-end inventory amount is reported in error, it can cause a misstatement in all of the following except:

• A) Cost of goods sold.
• B) Gross profit.
• C) Net sales.
• D) Current assets.
• E) Net income.

---

Definitions:

Homeless People

Individuals who lack a fixed, regular, and adequate nighttime residence.

Unilateral ECT

Electroconvulsive therapy applied to one cerebral hemisphere, typically used to reduce the cognitive side effects of ECT.

Traditional ECT

Electroconvulsive therapy as traditionally administered, where electric currents are passed through the brain to trigger a brief seizure as treatment for severe mental illnesses.

Side Effects

Unintended and usually adverse effects of a drug or medical treatment.