The financial statements of Betty Company contained the following errors:
Respond to each of the following (disregard income taxes): A.Profit for 20A,was understated or overstated (circle one).
B.Total combined profit for the two-year period ended December 31,20B,was overstated or understated (circle one).

Question

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The Answer of The financial statements of Betty Company contained the following errors:
Respond to each of the following (disregard income taxes): A.Profit for 20A,was understated or overstated (circle one).
B.Total combined profit for the two-year period ended December 31,20B,was overstated or understated (circle one).

The Financial Statements of Betty Company Contained the Following Errors