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  3. Mr. Wong paid ＄3,000 in advance for insurance on 1 December 2001 and debited it

Mr. Wong paid ＄3,000 in advance for insurance on 1 December 2001 and debited it

游客2025-06-21  32
问题 Mr. Wong paid ＄3,000 in advance for insurance on 1 December 2001 and debited it to Insurance Expense. No entries were made subsequently in 2001 or in 200The accounting period ends on December 3As a result of this error ______.
选项 A、2001 income was understated ＄2,000.
B、2002 income was understated ＄2,000.
C、2001 income was understated ＄3,000.
D、2002 income was understated ＄3,000.
答案 A
解析
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