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What are the effects that errors will have in over

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Reference no: EM132494940

Question 1: What are the effects that errors will have in over or understating total assets, liabilties, and net income.

Question 2: Alpha sold merchandise to Beta on credit with terms FOB Destination. As of December 31, the merchandise had not yet been received by Beta. Alpha recorded the sale and counted the merchanise in ending inventory (periodic inventory system).

Reference no: EM132494940

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