The financial statements of Mannassass Corporation for 2014 and 2015 contained the following errors: Assuming that none of the errors were detected or corrected,by what amount will 2014 operating income be overstated or understated?
A) $9,200 overstated
B) $9,200 understated
C) $18,800 understated
D) $18,800 overstated

Question

The financial statements of Mannassass Corporation for 2014 and 2015 contained the following errors:  Assuming that none of the errors were detected or corrected,by what amount will 2014 operating income be overstated or understated?
A) $9,200 overstated 
B) $9,200 understated 
C) $18,800 understated 
D) $18,800 overstated

Quizplus · Accepted Answer

The Answer of The financial statements of Mannassass Corporation for 2014 and 2015 contained the following errors:  Assuming that none of the errors were detected or corrected,by what amount will 2014 operating income be overstated or understated?
A) $9,200 overstated 
B) $9,200 understated 
C) $18,800 understated 
D) $18,800 overstated

The Financial Statements of Mannassass Corporation for 2014 and 2015