The Tricia Co Assuming That No Correcting Entries Were Made, by How Much

question 1

Multiple Choice

The Tricia Co.presented financial statements for 2010 and 2011 that contained the following errors: $\begin{array}{lll}&2011&2010\\\text { Ending merchandise inventory } & \$ 700 \text { understated } & \$ 400 \text { overstated } \\\text { Supplies expense } & 500 \text { understated } & 100 \text { overstated }\end{array}$ Assuming that no correcting entries were made, by how much would retained earnings be understated at January 1, 2012?

• A)$1, 200
• B)$1, 100
• C)$ 800
• D)$ 700

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Definitions:

Human Genome Project

an international scientific research project with the goal of determining the sequence of nucleotide base pairs that make up human DNA, and of identifying and mapping all of the genes of the human genome.

Repeated Sequences

DNA segments that are present multiple times within a genome, including both tandem repeats and interspersed repeats.

Nucleotides

Organic molecules that serve as the monomers, or subunits, of nucleic acids like DNA and RNA, consisting of a nitrogenous base, a sugar, and one or more phosphate groups.

Microinjection

A technique used in molecular biology to deliver substances directly into cells by penetrating the cell membrane with a fine needle.