Use the following information for questions.
Giselle Ltd.is a calendar-year corporation.Its financial statements for the years 2018 and 2017 contained errors as follows:
-Assume that the proper correcting entries were made at December 31, 2017.By how much will 2018 pre-tax income be overstated or understated?
A)$2,000 understated
B)$2,000 overstated
C)$6,000 overstated
D)$8,000 overstated

Question

Use the following information for questions.
Giselle Ltd.is a calendar-year corporation.Its financial statements for the years 2018 and 2017 contained errors as follows: 
-Assume that the proper correcting entries were made at December 31, 2017.By how much will 2018 pre-tax income be overstated or understated?
A)$2,000 understated 
B)$2,000 overstated 
C)$6,000 overstated 
D)$8,000 overstated

Quizplus · Accepted Answer

The Answer of Use the following information for questions.
Giselle Ltd.is a calendar-year corporation.Its financial statements for the years 2018 and 2017 contained errors as follows: 
-Assume that the proper correcting entries were made at December 31, 2017.By how much will 2018 pre-tax income be overstated or understated?
A)$2,000 understated 
B)$2,000 overstated 
C)$6,000 overstated 
D)$8,000 overstated

Use the Following Information for Questions