IIA
IIA-CIA-PART3 · Question #94
IIA-CIA-PART3 Question #94: Real Exam Question with Answer & Explanation
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Question
A small chain of grocery stores made a reporting error and understated its ending inventory. What effect would this have on the income statement for the following year?
Options
- ANet income would be understated.
- BNet income would not be affected.
- CNet income would be overstated.
- DNet income would be negative.
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