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anzhelika [568]
3 years ago
6

How does an error that results in an overstatement of ending inventory affect the elements of the company's financial statements

in the current year? Assets = Liab. + Equity Rev. - Exp. = Net Inc. Cash Flow A. + NA + NA - + NA B. - NA - NA + - NA C. + NA + NA NA NA +OA D. + + NA NA + - +OA Multiple Choice Option A Option B Option C Option D
Business
1 answer:
Kruka [31]3 years ago
7 0

Answer:

A. + NA + NA - + NA

Explanation:

Since in the question there is an overstatement of ending inventory which affect the financial statements i.e increase in the gross profit due to which the net income is also increase that reflects the increment in the retained earning and the equity as well plus the asset side is also increased but it does not have any change in the cash flow statement as it does not involve any transaction of cash

Hence, the first option is correct

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2 years ago
If exports ______________, then the economy is said to have a trade surplus.
xeze [42]

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3 0
1 year ago
Todd Mountain Development Corporation is expected to pay a dividend of $3 in the upcoming year. Dividends are expected to grow a
antiseptic1488 [7]

Answer:

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4 0
3 years ago
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Irina18 [472]

Answer:

See explaination and attachment

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To have a clearer understanding of the solution given please check attachment for the detailed step by step solution of the solution of the given problem.

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