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Author Question: A company recorded an acquisition of merchandise and its related liability, but failed to include ... (Read 42 times)

Caileynorton

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on: Aug 21, 2022
A company recorded an acquisition of merchandise and its related liability, but failed to include the merchandise in ending inventory. The effect on the financial statements was to
◦ understate liabilities.
◦ understate net income.
◦ overstate net income.
◦ have no impact on the financial statements since the errors cancel each other out.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by Caileynorton on Aug 21, 2022

kaynelson17

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Caileynorton

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review

pangili4

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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