Koppell Co. made the following errors in counting its year-end physical inventories:

As a result of the above undetected errors, 2011 income was
A) understated by $18,000.
B) overstated by $198,000.
C) overstated by $18,000.
D) understated by $198,000.

Question

Koppell Co. made the following errors in counting its year-end physical inventories:

As a result of the above undetected errors, 2011 income was
A) understated by $18,000. 
B) overstated by $198,000. 
C) overstated by $18,000. 
D) understated by $198,000.

Quizplus · Accepted Answer

The Answer of Koppell Co. made the following errors in counting its year-end physical inventories:

As a result of the above undetected errors, 2011 income was
A) understated by $18,000. 
B) overstated by $198,000. 
C) overstated by $18,000. 
D) understated by $198,000.