Treasury Stock Was Sold Above Cost;the Excess Was Credited to Gain

question 77

Multiple Choice

Treasury stock was sold above cost;the excess was credited to Gain on Sale.This error would cause:

• A)the period end assets to be overstated.
• B)the period end liabilities to be overstated.
• C)the total period end stockholders' equity to be overstated.
• D)the period's net income to be overstated.

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