On June 15, 2014, Wynne Corporation Accepted Delivery of Merchandise

question 164

Multiple Choice

On June 15, 2014, Wynne Corporation accepted delivery of merchandise which it pur-chased on account. As of June 30, Wynne had not recorded the transaction or included the merchandise in its inventory. The effect of this on its balance sheet for June 30, 2014 would be

• A) assets and stockholders' equity were overstated but liabilities were not affected.
• B) stockholders' equity was the only item affected by the omission.
• C) assets, liabilities, and stockholders' equity were understated.
• D) assets and liabilities were understated but stockholders' equity was not affected.

---

Definitions:

16 PF Test

A psychological assessment tool measuring a wide range of personality traits through a structured survey, identifying individual personality characteristics.

Occupational Success

Achieving personal and professional goals, satisfaction, and advancements in one’s career through skill, effort, and effective work.

Personality Research

The scientific study aimed at understanding how and why individuals differ in their patterns of thoughts, feelings, and behaviors.

Bivariate Approach

A statistical method that involves the analysis of two variables to understand the relationship between them.