If beginning inventory is understated by $15000 the effect of this error in the current period is $\begin{array}{cc}
\text { Cost of Goods Sold } & \text { Net Incom } \\end{array}$

A) $\begin{array}{cc} \text { Understated } && \text { Understated } \\end{array}$
B)$\begin{array}{cc} \text { Over stand } &&& \text { Over stand } \\end{array}$
C)$\begin{array}{cc} \text { Understated } &&& \text { Over stand } \\end{array}$
D)$\begin{array}{cc} \text { Over stand } &&& \text { Understated } \\end{array}$

Question

If beginning inventory is understated by $15000 the effect of this error in the current period is $\begin{array}{cc}
 \text { Cost of Goods Sold } & \text { Net Incom } \\end{array}$

A) $\begin{array}{cc} \text { Understated } && \text { Understated } \\end{array}$
B)$\begin{array}{cc}  \text { Over stand } &&& \text { Over stand } \\end{array}$
C)$\begin{array}{cc}  \text { Understated } &&& \text { Over stand } \\end{array}$
D)$\begin{array}{cc}  \text { Over stand } &&& \text { Understated  } \\end{array}$

Quizplus · Accepted Answer

The Answer of If beginning inventory is understated by $15000 the effect of this error in the current period is $\begin{array}{cc}
 \text { Cost of Goods Sold } & \text { Net Incom } \\end{array}$

A) $\begin{array}{cc} \text { Understated } && \text { Understated } \\end{array}$
B)$\begin{array}{cc}  \text { Over stand } &&& \text { Over stand } \\end{array}$
C)$\begin{array}{cc}  \text { Understated } &&& \text { Over stand } \\end{array}$
D)$\begin{array}{cc}  \text { Over stand } &&& \text { Understated  } \\end{array}$

If Beginning Inventory Is Understated by $15000 the Effect of This