What Is the Impact on the Financial Statements of an Overstatement

question 107

Multiple Choice

What is the impact on the financial statements of an overstatement of ending inventory?

• A)Next year's ending inventory will be overstated.
• B)Next year's net income will be overstated.
• C)Current year's net income will be overstated.
• D)Next year's ending inventory will be understated.

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