Assume That No Correcting Entries Were Made at December 31

question 78

Multiple Choice

Assume that no correcting entries were made at December 31, 2010, or December 31, 2011 and that no additional errors occurred in 2011.Ignoring income taxes, by how much will working capital, at December 31, 2011 be overstated or understated?

• A)$0
• B)$4,000 overstated
• C)$4,000 understated
• D)$3,000 understated

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