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B) Accounts receivable was understated, inventory was not affected, sales were understated, and cost of goods sold was understated.
B) Accounts receivable was understated, inventory was not affected, sales were understated, and cost of goods sold was understated. A) Accounts receivable was not affected, inventory was overstated, sales were understated, and cost of goods sold was understated. Which one of the following statements is correct concerning the effects of this error? A) Accounts receivable was not affected, inventory was overstated, sales were understated, and cost of goods sold was understated. B) Accounts receivable was understated, inventory was not affected, sales were understated, and cost of goods sold was understated. C) Accounts receivable was understated, inventory was overstated, sales were understated, and cost of goods sold was overstated. D) Accounts receivable was understated, inventory was overstated, sales were understated, and cost of goods sold was understated.
