Use the Following Information for Questions

question 48

Multiple Choice

Use the following information for questions.
Bishop Co.began operations on January 1, 2010.Financial statements for 2010 and 2011 con- tained the following errors:
In addition, on December 31, 2011 fully depreciated equipment was sold for $28,800, but the sale was not recorded until 2012.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, 2011 is understated by

• A)$328,800.
• B)$268,800.
• C)$184,800.
• D)$136,800.

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Definitions:

Schizophrenia

A long-term mental disorder involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception and inappropriate actions or feelings.

Serious Side Effects

are unwanted or dangerous effects caused by medical treatment or intervention that can require additional medical attention or discontinuation of the treatment.

Classical Antipsychotics

Drugs (such as Thorazine and Haldol) that block dopamine receptors. These drugs seem to treat many positive symptoms of schizophrenia.

Negative Symptoms

In psychiatry, refers to the absence of normal behaviors or functions, such as lack of emotional expression, motivation, or speech, often associated with schizophrenia.