If the inventory at the end of the current year... - JAMB Accounting 1998 Question
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
correct option: a
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