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INTRO TO CANADIAN FINANCIAL ACCOUNTING - Please explain for each incident (1-5); Why the assets, Profits & retained earnings have either NE(no effect) , Understated
INTRO TO CANADIAN FINANCIAL ACCOUNTING -
Please explain for each incident (1-5); Why the assets, Profits & retained earnings have either NE(no effect) , Understated , Overstated
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The internal auditors discovered that the ending inventory in the previous period was understated $15,000 and that the ending inventory in the current period was overstated $25,000.
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