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:

Vague Idea

An unclear, imprecise, or poorly defined thought or concept, often needing further clarification.

Offer

A proposal presented by a seller to a potential buyer to provide a product or service under specified terms and conditions.

FM Modulator

A device that converts audio signals into FM signals, allowing them to be played through an FM radio receiver.

In Stock

Indicates that items are available for purchase and can be delivered or picked up immediately, as they are present in the inventory.