At the End of 20B,SAS Company Failed to Include Some

question 136

Multiple Choice

At the end of 20B,SAS Company failed to include some goods in its ending inventory and failed to record the purchase of these goods.For 20B,these two errors caused which of the following?

• A)Goods available for sale,cost of goods sold,and income to be overstated.
• B)Ending inventory,cost of goods sold,and retained earnings to be understated.
• C)Ending inventory,goods available for sale,and retained earnings to be understated.
• D)No effect on profit,working capital,or retained earnings.

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Definitions:

Unionized Industries

Sectors of the economy where workers are represented by unions, aiming to negotiate better wages, benefits, and working conditions.

Jurisdictional Disputes

Jurisdictional disputes occur when two or more entities (such as labor unions or government bodies) contest the right to control or manage a particular area of work or policy.

Union Mergers

The process where two or more labor unions consolidate into a single, larger union to strengthen their bargaining power and operational efficiency.

Global Expansion

The strategy of a business or organization to increase its presence and operations in multiple countries around the world.