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Which one of the following errors will result in the overstatement of net income?

A. Overstatement of beginning inventory.

B. Overstatement of ending inventory.

C. Overstatement of goodwill amortization.  

D. Overstatement of bad debt expense.

Accounting Auditing Bank Accounting CMA managerial accounting
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Date Posted: 2015/02/13
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Lesley Lanag CMA CPA
by Lesley Lanag CMA CPA , Senior Accountant , Takaful Emarat Insurance (P.S.C)

B.  Overstated ending inventory

 

EFFECT:

- understated cost of sales

- overstated net income

aziz urrehman
by aziz urrehman , key account executive , alkhair group of companies foam manufacturing

B. Overstatement of ending inventory.  is the correct answer.

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

B. Overstatement of ending inventory.

Akhter Mehmood
by Akhter Mehmood , Station Coordinator at Radio Dhamaal fm94 Sialkot , Global Entertainment Pvt Ltd

B. is the right Answer

Overstatement of ending inventory.

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