Question: What will be the effect understated U overstated O or no

What will be the effect—understated (U), overstated (O), or no effect (N)—on the income of the present and future periods if the following errors were made? In all cases, assume that amounts carried over into 20X1 would affect 20X1 operations via the routine accounting entries of20X1.

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  • CreatedFebruary 20, 2015
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