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Business, 10.03.2020 02:08 twhalon72

When taking a physical inventory, the company inadvertently counted its inventory as $34,000 instead of the correct amount of $43,000. Indicate the effect of the misstatement on the balance sheet of the current year. a. Stockholders' equity is overstated by $9,000. b. Assets are overstated by $9,000. c. Liabilities are overstated by $9,000. d. Assets are understated by $9,000.

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