Which of the following is true regarding JP’s 2011 net income?
A. Net income was understated by $10,000.
B. Net income was overstated by $10,000.
C. Net income was understated by $30,000.
D. Net income was overstated by $30,000.
Answer:A
Which of the following is true regarding JP’s 2011 net income?
A. Net income was understated by $10,000. B. Net income was overstated by $10,000. C. Net income was understated by $30,000. D. Net income was overstated by $30,000.