Which Statement Is Not Correct About Inventory Errors

question 86

Multiple Choice

Which statement is not correct about inventory errors?

• A)Misstatements in inventory can affect the beginning inventory amounts.
• B)Misstatements in inventory can affect the ending inventory amounts.
• C)Misstatements in inventory affect current ratios.
• D)Misstatements in inventory have no effect on net income.

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Definitions:

Iliacus

A muscle in the pelvis that, together with the psoas major, forms the iliopsoas, which is involved in flexing and rotating the thigh.

Psoas Major

A deep-seated muscle of the back that helps in flexing the hip and the lumbar spine.

Medial Rotation

A rotational movement towards the midline of the body.

Biceps Femoris

A muscle of the thigh that is part of the hamstring group, involved in knee flexion and thigh extension.