Which of the Following Errors Will Normally Result in Overstatement

question 23

Multiple Choice

Which of the following errors will normally result in overstatement of 2011 net income?

• A)failure to record merchandise purchases in 2010
• B)understatement of 2010 ending merchandise inventory
• C)failure to record accrued salaries expense in 2010
• D)overstatement of prepaid expense in 2010

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Definitions:

Lumbar Vertebra

One of the larger vertebrae located in the lower back part of the spinal column, supporting much of the body's weight.

Thoracic Vertebra

One of the twelve vertebrae located in the middle section of the vertebral column, each providing attachment for a pair of ribs.

Manubrium

The broad, upper part of the sternum (breastbone), with which the clavicles (collarbones) and first ribs articulate.

Internal Acoustic Meatus

An opening in the temporal bone of the skull that transmits nerves for hearing and balance from the inner ear to the brain.