The financial statements of Betty Company contained the following errors: Respond to each of the following (disregard income taxes): A. Profit for 20X1, was understated or overstated (circle one). B.

The financial statements of Betty Company contained the following errors: Respond to each of the following (disregard income taxes):
A. Profit for 20X1, was understated or overstated (circle one).
B. Total combined profit for the two-year period ended December 31, 20X2, was overstated or understated (circle one).


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