Which of the following is false? None of these. O Understating purchases for the same amount that ending inventory is understated has no effect on net income. Overstating purchase returns and allowances overstates net income. Overstating ending inventory understates cost of goods sold. O Understating sales discounts overrstates net income.

Which of the following is false? None of these. Understating purchases for the same amount that ending inventory is understated has no effect on net income. Overstating purchase returns and allowances overstates net income. Overstating ending inventory understates cost of goods sold. Understating sales discounts overrstates net income