An understatement of reported net income for the current year may result from
A)an understatement of beginning inventory in the previous period
B)an overstatement of ending inventory in the current period
C)failure to record accrued payroll liabilities
D)failure to record accrued interest revenue

Question

Quizplus · Accepted Answer

The Answer of An understatement of reported net income for the current year may result from
A)an understatement of beginning inventory in the previous period
B)an overstatement of ending inventory in the current period
C)failure to record accrued payroll liabilities
D)failure to record accrued interest revenue

An Understatement of Reported Net Income for the Current Year