In 2019,ending Inventory Is Overstated

question 116

Multiple Choice

In 2019,ending inventory is overstated.What is the effect of the error on net income in 2019 and 2020?

• A)Net income is overstated in 2019 and understated in 2020.
• B)Net income is understated in 2019 and overstated in 2020.
• C)Net income is understated in 2019 and 2020.
• D)Net income is overstated in 2019 and 2020.

Understand the significance of self-awareness and feedback in facilitation.

Recognize barriers to effective facilitation and how to overcome them.

Understand the correct use of singular and plural nouns in sentences.

Understand the concept and calculation of standard deviations from the mean.

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Definitions:

Boston Tea Party

The incident on December 16, 1773, in which the Sons of Liberty, dressed as Indians, dumped hundreds of chests of tea into Boston Harbor to protest the Tea Act of 1773. Under the Tea Act, the British exported to the colonies millions of pounds of cheap—but still taxed—tea, thereby undercutting the price of smuggled tea and forcing payment of the tea duty.

Battle of Alamance

A pre-American Revolutionary War conflict in 1771 between local militia and a group of rebels known as Regulators in North Carolina, symbolizing growing colonial unrest.

Regulators

Individuals or bodies that control, monitor, or supervise specific activities or industries, ensuring compliance with laws and standards for the public good.

Sons of Liberty

A group of American patriots during the late 18th century, known for their radical actions against the British tax policies leading to the American Revolution.