When Calculating the Interest on a Note Receivable 365 Days

question 97

Multiple Choice

When calculating the interest on a note receivable 365 days instead of 360 days was used.This error would cause:

• A)the period end assets to be overstated.
• B)the period end liabilities to be understated.
• C)the period's net income to be overstated.
• D)the period's net income to be understated.

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Definitions:

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Actions or conduct that instill fear or exert undue influence on others, often used to manipulate or control.

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