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kirza4 [7]
3 years ago
10

Q-mart failed to include inventory that was kept in a separate warehouse in its 12/31 end-of-the-period inventory count. Consequ

ently, the ending inventory on 12/31 was understated on the balance sheet. Explain how this error affects the current year's income statement. (Check all that apply.)
Business
1 answer:
Sindrei [870]3 years ago
3 0

Answer:

Total assets and Total equity will be this year's understated.

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