Use the Following Information for the Following Questions:
Ignore

question 74

Multiple Choice

Use the following information for the following questions:
Ignore taxes.
Peach Inc.'s financial statements for the years 2019 and 2020 contained errors as follows:
$\begin{array}{c}\begin{array}{lll}\\\text {Ending inventory}\\\text { Depreciation Expense}\end{array}\begin{array}{c}\underline{2019}\\\text {\$ 3,000 \quad understated}\\\text {5,500 \quad overstated }\end{array}\begin{array}{c}\underline{2020}\\\text { \$ 5,000 \quad overstated}\\\text {3,500 \quad overstated}\end{array}\end{array}$

-Assuming that none of the errors were detected or corrected, by what amount will retained earnings at December 31, 2020 be overstated or understated?

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

Describe how social networks can facilitate organizational processes like staffing and collaboration.

Recognize the tools and methods for assessing brand reputation and stakeholder engagement online.

Understand the differences between types of social networks and their unique functions.

Recognize the importance and methods of content curation for business communication.

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Definitions:

Coffee Import Business

The business activity of bringing coffee from foreign countries into one's own country for sale and distribution.

Indoor Management Rule

A legal principle allowing outsiders dealing with a company to assume that internal company rules have been properly followed.

Corporate Agents

Individuals or entities authorized to act on behalf of a corporation, making decisions and entering into agreements.

Corporate Officers

Individuals appointed to manage the daily operations of a corporation, such as CEOs, CFOs, and COOs, who have specific legal responsibilities.