Two Separate Errors Affected Rollings Company in 2018

question 98

Multiple Choice

Two separate errors affected Rollings Company in 2018. The beginning inventory was overstated by $12,000 and the ending inventory was overstated by $18,000. Net income in 2019 will be:

• A)overstated by $30,000.
• B)understated by $18,000.
• C)overstated by $18,000.
• D)overstated by $6,000.

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Definitions:

Aqueous Humor

is a clear fluid located in the front and between the lens and the cornea of the eye, helping to maintain intraocular pressure and provide nutrients to the eye tissues.

Anterior Cavity

A body cavity located at the front part of the body, which includes the thoracic and abdominopelvic cavities, housing major organs.

Fovea Centralis

A small depression in the retina of the eye where visual acuity is highest, owing to a high density of cones.

Peripheral Portions

The outer regions or edges of an area or structure, often contrasted with the central or core areas.