On December 15,2010,Transport Company Accepted Delivery of Merchandise Which It

On December 15,2010,Transport Company accepted delivery of merchandise which it purchased on credit.As of December 31,2010,the company had neither recorded the transaction nor included the merchandise in its ending inventory amount because the seller's invoice had not been received.The effect of this omission on its balance sheet at December 31,2010,(end of the accounting period) was that

A) assets and stockholder's equity were overstated but liabilities were not affected.
B) stockholder's equity was the only item affected by the omission.
C) assets and liabilities were understated but stockholders' equity was not affected.
D) assets and stockholders' equity were understated but liabilities were not affected.