Match Each Situation to Its Impact (A-C) on the Current

question 86

Multiple Choice

Match each situation to its impact (a-c) on the current year's net income.
-The beginning inventory was recorded as $10,000, when actual inventory on hand was $12,000.

• A)Net income for the current year will be overstated.
• B)Net income for the current year will be understated.
• C)There will be no error effect on net income.

---

Definitions:

Job Analysis

Studies job requirements and facts that can influence performance.

Job Facts

Objective information about a job, including its requirements, responsibilities, and conditions of employment.

Existing Jobs

The current positions of employment within an organization or the economy at large.