Treasury stock was purchased and recorded as an asset. this error would cause

1 the period's end assets to be understated.

2 the period's end liabilities to be overstated.

3 the period's end stockholders' equity to be overstated.

4 none of the above

Phoenix guitars is interested in pursuing backward integration to take greater ownership of the extraction of raw materials and production of components used in its signature line of guitars. although this approach would lower the overall cost of producing a guitar, the costs associated with producing electronic pickupsfor sound amplification are far greater than those associated with sourcing pickups from a reliable supplier. which of the following approaches is likely to produce superior results? a) invest in vertical integration despite the cost of producing pickups.b) abandon the idea of vertical integration entirely.c) pursue taper integration.d) introduce a budget line of guitars to diversify the firm's offerings.