Use the Following Information for Questions

question 43

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.
-Link's income statement for the year ended December 31, 2011, should show the cumulative effect of this error in the amount of

• A)$726,000.
• B)$642,000.
• C)$558,000.
• D)$0.

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Definitions:

Personality

The combination of characteristics or qualities that form an individual's distinctive character and influence their behaviors and attitudes.

Culture

The shared beliefs, values, norms, and practices that characterize a group of people or a society.

Marketing Mix

The marketing mix is a foundational concept in marketing that outlines the several critical components of a marketing strategy, commonly identified as the 4Ps: Product, Price, Place, and Promotion.

Buyer Exchanges

The interactions and transactions that occur between buyers and sellers in the marketplace.