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    Principles of Financial Accounting Study Set 1
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    Exam 6: Inventory Costing
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    If Ending Inventory Is Understated in 2014, the 2015 Ending
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If Ending Inventory Is Understated in 2014, the 2015 Ending

Question 98

Question 98

Multiple Choice

If ending inventory is understated in 2014, the 2015 ending owner's equity will be


A) understated.
B) overstated.
C) correct.
D) Owner's equity is never affected by an inventory error.

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