Beginning inventory for the year ended December 31,2019,is understated.How will this error affect net income for 2019 and 2020?
A) 2019 overstated;2020 understated
B) 2019 understated;2020 overstated
C) 2019 overstated;2020 no effect
D) 2019 understated;2020 no effect
Correct Answer:
Verified
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