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Home Q & A Board Other Fields Homework Help Business Accounting
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Fast2F Fast2F
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7 years ago
The freight paid on goods purchased F.O.B. shipping point was debited to the Freight Expense account. The goods are not sold at period end. The company uses the perpetual inventory method. This error would cause:
A) the period's net income to be overstated.
B) the period end liabilities to be understated.
C) the period end assets to be understated.
D) None of these is correct.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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OmpaOmpa
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7 years ago
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Fast2F Author
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#2
7 years ago
I’m very happy now Smiling Face with Open Mouth Thank you for the answe
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