Analysis of errors
Indicate in each of the spaces provided the effect of the described errors on the various elements of a company's financial statements. Use the following codes:
O = amount is overstated;
U = amount is understated;
NE = no effect.
Assume a periodic inventory system and that all sales and purchases are on credit.

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The Answer of Analysis of errors
Indicate in each of the spaces provided the effect of the described errors on the various elements of a company's financial statements. Use the following codes:
O = amount is overstated;
U = amount is understated;
NE = no effect.
Assume a periodic inventory system and that all sales and purchases are on credit.

Analysis of Errors Indicate in Each of the Spaces Provided the Effect of the Effect