Question

Partner A invested in furniture that was recorded at a value below the fair market value. This error would cause the period's Question 8 options: end capital to be overstated. end assets to be understated. end assets to be overstated. net income to be overstated.

Answer 1

The correct answer is

net income to be overstated.

Answer 2

I think the correct answer for your questiom would be This error would cause the period's. end assets to be understated. Because the prize when it is bought is lower than the market price.