Use the Following Information for Questions 61 Through 63

question 74

Multiple Choice

Use the following information for questions 61 through 63.
Bishop Co. began operations on January 1, 2014. Financial statements for 2014 and 2015 con- tained the following errors: In addition, on December 31, 2015 fully depreciated equipment was sold for $28,800, but the sale was not recorded until 2016. No corrections have been made for any of the errors. Ignore income tax considerations.
-The total effect of the errors on the balance of Bishop's retained earnings at December 31, 2015 is understated by

• A) $318,800.
• B) $258,800.
• C) $174,800.
• D) $126,800.

---

Definitions:

Polymorphism

(1) The existence of two or more phenotypically different individuals within a population. (2) The presence of detectable variation in the genomes of different individuals in a population.

Genomes

The complete set of DNA, including all of its genes, in an organism or a cell, providing the biological blueprint.

DNA Profiling

A technique used to identify individuals by characteristics of their DNA, commonly used in forensic science to assist in identifying individuals or determining parentage.

DNA Regulatory Elements

Sequences of DNA that control the expression of genes, acting as switches to turn genes on or off.