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Business, 06.08.2019 22:10 dreamdancekay

Howard lumber company mistakenly classified as an expense a product costs that totaled 20,000. the company produced 2,000 units of product and sold 1,000 of them during the year. management is paid a bonus equal to 2% of net income. in the year in which the mistake was made-product costs were overstated-management bonuses were overstated-the company's income statement portrayed a more favorable position than actually existed-the company's net income was understated

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Howard lumber company mistakenly classified as an expense a product costs that totaled 20,000. the c...
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