Question: The following errors were discovered before preparing the closing entries of 2020 nominal accounts. Indicate the effects of each error on the net income of

The following errors were discovered before preparing the closing entries of 2020 nominal accounts. Indicate the effects of each error on the net income of 2018, 2019 and 2020. For your answer, write the words overstated, understated, no effect or it depends in each space provided.

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