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Finding Closing Stock

An overstatem...

Question

An overstatement in the value of closing stock overstates all of the following except:

A

Net Income

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B

Current assets

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C

Capital of the business

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D

Cost of goods sold

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Solution

The correct option is D
Cost of goods sold

An overstatement in the value of closing stock overstates all of the following except cost of goods sold.

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