Q. The beginnings inventory of the current year is overstated by ` 5,000 and closing inventory isoverstated by ` 12,000. These errors will cause the net income for the current year by (Solved)
1. 17,000 (overstated)
2. 12,000 (understated)
3. 7,000 (overstated)
4. 7,000 (understated)
- c. 7,000 (overstated)