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When Ms. Jaya prepared his year-end accounts, she made a calculation error and overstated the value of her closing inventory. What is the effect of

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When Ms. Jaya prepared his year-end accounts, she made a calculation error and overstated the value of her closing inventory. What is the effect of this error on the profit for the year and net assets at the year end?* Understated Overstated Remain Net assets at year end Profit for the year Current liabilities

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