Which of the following errors is not self-correcting over two accounting periods?

A. Failure to record accrued wages. B. Failure to record depreciation. C. Overstatement of inventory.

Question added by Altaf Bhoon ACA , Assistant Finance Manager , Atlantic Maritime Group FZE
Date Posted: 2014/11/25

Upvote (1) Views (13) Followers (5) Answers (3) Report Question

by Muzaffar Hussain , Human Resource Officer , State Bank of Pakistan

C. Overstatement of Inventory

by syed wajid hussaini , TEAM LEADER SUPERVISOR , SAUDI GUARDIAN INTER NATIONAL FLOAT GLASS COMPANY

b failure record depreciation

by Anton Zhuravlev , Technical Consultant and Sales CEO , Royal Stables

a) internationally

Do it require any type of accounts required to be added to? Please help to edit and update wiki.
Top Answer: Eliminate Contra Accounts See More

Answers (15)
A corporation entered into a purchase commitment to buy inventory.
Top Answer: Neither describe the purchase obligation nor recognize a loss on the income statement or balance sheet ... See More

Answers (2)
A corporation entered into a purchase commitment to buy inventory.
Top Answer: answer A is the right option . Recognize a loss and a liability . See More

Answers (4)
Which of the following statements about a periodic inventory system is true ?
Top Answer: Thanks for Inviting: a) Companies determine cost of goods sold only at the end of the accounting period ... See More

Answers (5)

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.