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Home Q & A Board Other Fields Homework Help Business Accounting
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mkjmabrey mkjmabrey
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2 years ago
An inventory acquisition is received late in the afternoon of December 31 after the physical inventory is completed. If the acquisition is included in accounts payable and purchases, but excluded from inventory, the result

▸ is an understatement of net earnings.

▸ is an overstatement of net earnings.

▸ is an overstatement of working capital.

▸ is an overstatement of owner's equity.
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Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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Jessicav1126Jessicav1126
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2 years ago
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mkjmabrey Author
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2 years ago
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Correct Slight Smile TY
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