Business, 04.04.2020 04:56 kayleg907436
Kilian Company's inventory balance at the end of the year does not include $10,000 of inventory that was stored in a separate warehouse and accidentally excluded from the physical count. If the error is not discovered until the following year, the financial statement effect in the current year will be: .a. understated assets; overstated retained earnings and net income b. the financial statements are correct c. understated assets, retained earnings, and net income
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Kilian Company's inventory balance at the end of the year does not include $10,000 of inventory that...
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