Which of the Following Is an INCORRECT Statement If Ending

question 111

Multiple Choice

Which of the following is an INCORRECT statement if ending inventory is overstated?

• A)Cost of goods sold is overstated.
• B)Gross profit is overstated.
• C)Net income is overstated.
• D)Income tax is overstated.

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Definitions:

Intermolecular Forces

Forces of attraction or repulsion which act between neighboring particles (atoms, molecules, or ions).

Specific Heat Capacity

The quantity of thermal energy necessary to increase the temperature of a given mass of a material by one degree Celsius.

Hydrogen Bonding

A type of weak chemical bond that occurs when a hydrogen atom, which is covalently bonded to a highly electronegative atom, is attracted to another electronegative atom.

Temperature Vs. Heat

Temperature measures the kinetic energy of particles in an object, while heat refers to the transfer of energy from one object to another because of a temperature difference.