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An error on both the balance sheet and the income statement can occur when an organization purchases more inventory than it sells. fails to record

An error on both the balance sheet and the income statement can occur when an organization

purchases more inventory than it sells.

fails to record dividends paid to shareholders.

adjusts the accounts for stolen inventory.

fails to count or value inventory correctly.

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Recommended Textbook for

Foundations of Financial Management

Foundations of Financial Management

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta

10th Canadian edition

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