In July of 2015, the accountant discovered an error affecting the 2014 computation of amortization expense related to the company's patent. As a result of this error, 2014 amortization expense was understated by $21,000 and 2014 net income after taxes (which are paid at a rate of 30%)was overstated by $14,700.
Definitions:
In-Group
A social group to which a person psychologically identifies as being a member.
Pariah
An individual who is despised or rejected by others, often used to describe an outcast in society.
Discrimination
involves treating someone differently or unjustly based on certain characteristics, such as race, age, gender, or sexuality, rather than individual merit.
Prejudice
A preconceived opinion or bias against an individual or group without sufficient information or experience, often based on stereotypes or societal norms.
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