Use the Following Information for Questions

question 42

Multiple Choice

Use the following information for questions.
On January 2, 2015, Beaver Corp.purchased machinery for $135,000.The entire cost was incorrectly recorded as an expense.The machinery has a nine-year life and a $9,000 residual value.Beaver uses straight-line depreciation for all its plant assets.The error was not discovered until May 1, 2017, and the appropriate corrections were made.Ignore income tax considerations.
-Beaver's income statement for the year ended December 31, 2017 should show the cumulative effect of this error of

• A)$0.
• B)$93,000.
• C)$107,000.
• D)$121,000.

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Definitions:

Publication Bias

The tendency for positive or significant results to be published more frequently than negative or non-significant findings, potentially skewing the scientific literature.

Meta-Analysis

A statistical technique that combines the results of multiple scientific studies to find common trends, differences, or effects.

Forest Plot

is a graphical display designed to illustrate the relative strength of treatment effects in multiple quantitative scientific studies addressing the same question.

Chart

A visual representation of data designed to make information easily understandable at a glance.