Use the Following Information for Questions Through

question 157

Multiple Choice

Use the following information for questions through.Ignore taxes. Peach Inc.'s financial statements for the years 2014 and 2015 contained errors as follows:
-Assuming that NONE of the errors were detected or corrected, by what amount will retained earnings at December 31, 2015 be overstated or understated?

• A)$4,000 understated.
• B)$5,000 overstated.
• C)$8,500 understated.
• D)$11,500 understated.

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Definitions:

Vertebral Arteries

Pair of arteries that arise from the subclavian arteries and ascend in the neck to supply blood to the brain and spinal cord.

Supply Blood

The process of providing nutrients and oxygen to tissues through the circulatory system.

Limbic System

The limbic system is a complex system of nerves and networks in the brain, involved in emotions such as fear and pleasure.

Neural Connections

Neural connections, known as synapses, are the points at which neurons communicate with each other through neurotransmitters.