What would happen if the company in the example recorded the loss of $ 5 000 on the accounting statement?
A.
The company's inventory would decline in value.
B.
The total assets would be reported twice on the balance sheet.
C.
The owner's equity will be overstated on the income statement.
D.
The accounting information is reliable and the total assets and 'owner's equity will be stated correctly on the balance sheet.