Overstating Ending Inventory Will Overstate All of the Following Except

question 213

Multiple Choice

Overstating ending inventory will overstate all of the following except

• A) assets.
• B) cost of goods sold.
• C) net income.
• D) owner's equity.

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Definitions:

Openness

A personality trait characterized by an appreciation for new experiences, creativity, and a willingness to explore novel ideas and values.

Big 5 Personality Trait

A theory in psychology that outlines five broad dimensions of human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Conscientiousness

A characteristic of personality signified by being well-organized, reliable, and having a profound commitment to responsibilities.

Extroversion

A characteristic of personality marked by being outgoing, communicative, confident, and demonstrating significant emotional expression.