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Exam IIA-CIA-Part3 topic 2 question 201 discussion

Actual exam question from IIA's IIA-CIA-Part3
Question #: 201
Topic #: 2
[All IIA-CIA-Part3 Questions]

A small chain of grocery stores made a reporting error and understated its ending inventory. What effect would this have on the income statement for the following year?

  • A. Net income would be understated
  • B. Net income would not be affected
  • C. Net income would be overstated
  • D. Net income would be negative
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Suggested Answer: A 🗳️
by 34205ac at Nov. 27, 2024, 6:35 p.m.

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34205ac
6 days, 13 hours ago
Selected Answer: C
the answer is C
upvoted 1 times
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