Understatement n. : The act of understating, or the condition of being understated; that which is understated; a statement below the truth.

Example:
What does the Understatement of the ending inventory balance effect?

Taxonomy
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Defination from the web:
Understatement. From Wikipedia, the free encyclopedia. Jump to: navigation, search. Understatement is a form of speech in which a lesser expression is used than what would be expected. ... Understatement is a staple of humor in English-speaking cultures, especially in British humor. ...