Two Separate Errors Affected Satellite City in 2019

question 44

Multiple Choice

Two separate errors affected Satellite City in 2019. The beginning inventory was understated by $28,000 and the ending inventory was understated by $43,000. Net income in 2019 will be:

• A)understated by $15,000.
• B)understated by $71,000.
• C)understated by $43,000.
• D)overstated by $15,000.

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Definitions:

Realistic Facial Detailing

A technique in art and sculpture that aims to accurately depict human facial features, capturing lifelike expressions and emotions.

Tea Master

An individual highly skilled in the art and ceremony of tea, often in the context of traditional Japanese tea ceremonies, characterized by meticulous attention to detail and aesthetics.

Teahouse Designer

A Teahouse Designer specializes in creating spaces for traditional tea ceremonies, focusing on aspects of Japanese culture, aesthetics, and architecture, ensuring tranquility and harmony in the design.

Sen No Rikyu

A historical figure in Japan, known for his significant influence on the Japanese tea ceremony, emphasizing simplicity and naturalness.