Jackson Roper fraudulently overstated its December 31, 2010 inventory by $8,000. As a result of this overstatement,
A) the 2010 earnings per share is overstated.
B) the 2010 current ratio is understated.
C) the 2010 cost of goods sold amount is overstated.
D) net income is overstated for 2011, and net income for 2010 is correct.
Correct Answer:
Verified
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