Newsman Co.made the following errors in counting its year-end physical inventories:

As a result of the above undetected errors,2014 income was
A)understated by $18,000.
B)overstated by $198,000.
C)overstated by $18,000.
D)understated by $198,000.

Question

Newsman Co.made the following errors in counting its year-end physical inventories:

As a result of the above undetected errors,2014 income was
A)understated by $18,000. 
B)overstated by $198,000. 
C)overstated by $18,000. 
D)understated by $198,000.

Quizplus · Accepted Answer

The Answer of Newsman Co.made the following errors in counting its year-end physical inventories:

As a result of the above undetected errors,2014 income was
A)understated by $18,000. 
B)overstated by $198,000. 
C)overstated by $18,000. 
D)understated by $198,000.