Dole Produce Ltd

question 37

Multiple Choice

Dole Produce Ltd. counted $700 of inventory twice in its December 31, 2016 inventory. On December 31, 2017, it mistakenly omitted $200 of merchandise from its inventory. As a result of these errors:

• A)net income is overstated by $700 in 2016 and understated by $200 in 2017.
• B)net income in understated by $700 in 2016 and overstated by $200 in 2017.
• C)net income is overstated by $700 in 2016 and understated by $900 in 2017.
• D)total net income for 2016 and 2017 is correct.

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Definitions:

Cancer Survivorship

The phase in an individual’s life during and after the completion of cancer treatment, focusing on the health and life of a person with a history of cancer.

Declared Cancer Free

A status indicating that after medical evaluations and testing, a patient shows no signs of active cancer following treatment.

Chemotherapy-Induced

Referring to symptoms or conditions that result directly from the administration of chemotherapy drugs used in cancer treatment.

Peripheral Neurotoxicity

Damage to peripheral nerves caused by exposure to toxic substances, manifesting in symptoms like weakness, numbness, and pain typically in the hands and feet.