Assuming That Ending Inventory for 2012 Was Understated,indicate Whether Each

question 44

Essay

Assuming that ending inventory for 2012 was understated,indicate whether each of the following will be understated (U),overstated (O),or not affected (N).
_____ 1.Beginning inventory for 2013
_____ 2.Cost of goods sold for 2012
_____ 3.Stockholders' equity at the end of 2013
_____ 4.Income before income taxes for 2013
_____ 5.Stockholders' equity at the end of 2012
_____ 6.Cost of goods sold for 2013
_____ 7.Income before income taxes for 2012

---

Definitions:

USB Flash Drives

Portable storage devices that use flash memory and connect to other devices via USB ports, used for storing and transferring data.

Mobile Users

Individuals accessing services or information via mobile devices such as smartphones and tablets.

Cloud Storage

A service model where data is maintained, managed, backed up remotely, and made available to users over a network, typically the internet.

Electronic Device

A piece of equipment that operates on electricity, including anything from computers and smartphones to household appliances.