Cesar Company Understated Its Inventory by $20000 at December 31

question 217

Multiple Choice

Cesar Company understated its inventory by $20000 at December 31 2016. It did not correct the error in 2016 or 2017. As a result Cesar's owner's equity was:

• A) understated at December 31 2016 and overstated at December 31 2017.
• B) understated at December 31 2016 and properly stated at December 31 2017.
• C) overstated at December 31 2016 and overstated at December 31 2017.
• D) understated at December 31 2016 and understated at December 31 2017.

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Definitions:

Cardiac Cycle

The cardiac cycle is the sequence of events that occurs during one heartbeat, involving the contraction (systole) and relaxation (diastole) of the atria and ventricles to pump blood throughout the body.

Stroke Volume

The volume of blood pumped from the heart's left ventricle per beat.

Cardiac Output

Cardiac Output is the volume of blood the heart pumps through the circulatory system in one minute.

End-Systolic Volume

The volume of blood remaining in each ventricle of the heart after systole, the contraction phase.