Question: FILTER VERSION Multiple Choice Question 116 Cesar Company understated its inventory by $20,000 at December 31, 2020. It did not correct the error in 2020

FILTER VERSION Multiple Choice Question 116 Cesar Company understated its inventory by $20,000 at December 31, 2020. It did not correct the error in 2020 or 2021. As a result, Cesar's owner's equity was: overstated at December 31, 2020, and overstated at December 31, 2021 understated at December 31, 2020, and understated at December 31, 2021. understated at December 31, 2020, and overstated at December 31, 2021 understated at December 31, 2020, and properly stated at December 31, 2021

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