Question 0

If the inventory at the end of the current year is understated and the error is not caught during the following year, the effect is to?

  • A.overstate income this year and understate in next year
  • B.understate income this year and overstate in next year
  • C.understate this year's income with no effect on the next year's
  • D.overstate the income for the two-year period
  • E.
Objective

Question details

Exam body
JAMB
Subject
Accounts - Principles of Accounts
Year
1998
Question no.
#0
Type
Objective

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