Treasury stock was sold above cost and the excess was credited to Gain on Sale.

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Business Finance

Description

Treasury stock was sold above cost and the excess was credited to Gain on Sale. This error would cause __________.

A. the period’s end assets to be overstated

B. the period’s end liabilities to be overstated

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Explanation & Answer

Treasury stock was sold above cost and the excess was credited to Gain on Sale. This error would cause __________. D. the period’s net income to be overstated


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