Use the following information for questions 92 through 94.
Hudson, Inc. is a calendar-year corporation. Its financial statements for the years 2015 and 2014 contained errors as follows:
-Assume that the proper correcting entries were made at December 31, 2014. By how much will 2015 income before taxes be overstated or understated?
A) $ 2,000 understated
B) $ 2,000 overstated
C) $ 4,000 overstated
D) $10,000 overstated

Question

Use the following information for questions 92 through 94.
Hudson, Inc. is a calendar-year corporation. Its financial statements for the years 2015 and 2014 contained errors as follows: 
-Assume that the proper correcting entries were made at December 31, 2014. By how much will 2015 income before taxes be overstated or understated?
A) $ 2,000 understated 
B) $ 2,000 overstated 
C) $ 4,000 overstated 
D) $10,000 overstated

Quizplus · Accepted Answer

The Answer of Use the following information for questions 92 through 94.
Hudson, Inc. is a calendar-year corporation. Its financial statements for the years 2015 and 2014 contained errors as follows: 
-Assume that the proper correcting entries were made at December 31, 2014. By how much will 2015 income before taxes be overstated or understated?
A) $ 2,000 understated 
B) $ 2,000 overstated 
C) $ 4,000 overstated 
D) $10,000 overstated

Use the Following Information for Questions 92 Through 94