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.