Use the following information for questions through.Ignore taxes. Peach Inc.'s financial statements for the years 2014 and 2015 contained errors as follows:
-Assuming that NONE of the errors were detected or corrected, and that no additional errors were made in 2016, by what amount will current assets at December 31, 2015 be overstated or understated?
A)$2,000 overstated
B)$10,000 understated
C)$10,000 overstated
D)$0

Question

Use the following information for questions through.Ignore taxes. Peach Inc.'s financial statements for the years 2014 and 2015 contained errors as follows: 
-Assuming that NONE of the errors were detected or corrected, and that no additional errors were made in 2016, by what amount will current assets at December 31, 2015 be overstated or understated?
A)$2,000 overstated 
B)$10,000 understated 
C)$10,000 overstated 
D)$0

Quizplus · Accepted Answer

The Answer of Use the following information for questions through.Ignore taxes. Peach Inc.'s financial statements for the years 2014 and 2015 contained errors as follows: 
-Assuming that NONE of the errors were detected or corrected, and that no additional errors were made in 2016, by what amount will current assets at December 31, 2015 be overstated or understated?
A)$2,000 overstated 
B)$10,000 understated 
C)$10,000 overstated 
D)$0

Use the Following Information for Questions Through