Use the Following Information for Questions

question 33

Multiple Choice

Use the following information for questions.
Link Co.purchased machinery that cost $810,000 on January 4, 2009.The entire cost was recorded as an expense.The machinery has a nine-year life and a $54,000 residual value.The error was discovered on December 20, 2011.Ignore income tax considerations.
-Before the correction was made, and before the books were closed on December 31, 2011, retained earnings was understated by

• A)$810,000.
• B)$726,000.
• C)$642,000.
• D)$558,000.

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Definitions:

Behavior Genetics

The study area concerned with identifying how genetics and environmental conditions influence behavioral patterns.

Natural Selection

The process by which organisms that are better adapted to their environment tend to survive and produce more offspring.

Bitter-Tasting Foods

Refers to edible substances that have a sharp, pungent flavor often perceived as unpleasant, which can vary based on genetic makeup and cultural preferences.

Genetically Predisposed

A condition where an individual has a higher likelihood of developing certain traits or diseases due to their genetic composition.