A Material Error in Ending Inventory Requires Special Analysis Because

question 50

Multiple Choice

A material error in ending inventory requires special analysis because it ________.

• A)affects two years cost of goods sold,income tax expense,net income,and retained earnings
• B)counter balances over a minimum of three years
• C)affects the balance sheet as well as the income statement for one year
• D)reflects poorly on the quality of the company's accounting reliability

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Definitions:

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