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brandanb6 brandanb6
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5 years ago
The 20x4 income of MXC was understated by $3,000. This was due to three separate errors. One
error was the overstatement of purchases by $2,000; the second error was the understatement of
depreciation expense by $1,000. Which of the following errors, in combination with the other
two, would cause the $3,000 understatement of income?
A) These two errors alone caused the misstatement
B) Prepaid expenses was overstated $2,000
C) Revenue earned but not yet collected of $2,000 was not properly recognized
D) Interest expense was understated $2,000
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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jmarcjmarc
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5 years ago
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brandanb6 Author
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