If a company overstates its ending inventory balance for 2017 by $10,000, and overstates its ending inventory balance for 2016 by $5,000 what are the effects on its net income for 2017 and 2016? Effect on 2017 Net Income Effect on 2016 Net Income

a. Overstated by $5,000 Overstated by $5,000
b. Overstated by $15,000 Overstated by $10,000
c. Overstated by $10,000 Overstated by $5,000
d. Understated by $5,000 Overstated by $10,000


a

Business

You might also like to view...

For consumer durables and other industrial products with long purchase cycles, ________ purchase is the key event

A) reinforcement B) bulk C) trial D) repeat purchase

Business

Complete the statement, using the following terms: increase, decrease, or have no effect on. Increases in sales price per unit ________ contribution margin per unit and ________ the breakeven point.

What will be an ideal response?

Business

Unrealized gains and losses on trading securities appear on the income statement

Indicate whether the statement is true or false

Business

"How do you feel about using a computer to keep your expense records?" is an example of a(n) ________ question

Fill in the blanks with correct word

Business