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yawa3891 [41]
2 years ago
8

It is obvious that an error occurred in the preparation and/or posting of closing entries if: Multiple Choice the Retained earni

ngs account is debited for the amount of the net loss for the period.
Business
1 answer:
Contact [7]2 years ago
7 0

There are different ways to make entry in a balance sheet. It is obvious that an error occurred in the preparation and/or posting of closing entries, if all balance sheet accounts have zero balances.

<h3>Should a balance sheet always have a zero balance?</h3>

Note that the sum of a company assets, liabilities and equity must always balance to zero.

For one to be able to have or generate a balance sheet report that is not equal zero, the balance sheet is said to be out of balance and this may create  an error in the ledger transactions.

Learn more about balance sheet accounts from

brainly.com/question/1113933

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You interview with an athletic footwear manufacturer that has annual advertising expenditures of $32 million and total sales rev
son4ous [18]

Answer:

elastic.

Explanation:

The advertising elasticity of demand measures how sensitive a market and sales are to marketing expenses. Advertising elasticity is calculated by dividing the change in quantity demanded by the percentage change in advertising expenses. Generally products with low advertising elasticity tend to have elastic demands.

8 0
3 years ago
Define option price. Explain why the option price of a policy might differ from the expected surplus generated by the policy.
Nesterboy [21]

Explanation:

Options prices, known as premiums, are composed of the sum of its intrinsic and time value. Intrinsic value is the price difference between the current stock price and the strike price. An option's time value or extrinsic value of an option is the amount of premium above its intrinsic value.

8 0
3 years ago
A company purchases equipment for $32,000 cash. This transaction should be shown on the statement of cash flows under:________
omeli [17]

Answer:

b. investing activities

Explanation:

Cash flow can be defined as the net amount of cash and cash-equivalents that is flowing into (received) and out (given) of a business. There are three components of the cash flow;

1. Operating cash flow: all cash generated from the business activities of an organization.

2. Financing cash flow: all payments made by an organization and profits from issuance of debts and equity.

3. Investing cash flow: costs associated with purchasing of capital assets and investments of cash resources in other businesses.

A company purchases equipment for $32,000 cash. This transaction should be shown on the statement of cash flows under investing activities.

Generally, investing activities comprises of purchasing physical assets, investing in securities and the sale of assets or securities associated with the company.

<em>Hence, a company that purchases equipment for $32,000 cash should show the transaction on the statement of cash flows under investing activities.</em>

4 0
3 years ago
How many european union countries use the euro as their official currency?
BlackZzzverrR [31]

Answer:

19

Explanation:

The euro is the sole currency of 19 EU member states: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

6 0
4 years ago
The two primary factors affecting an​ entrepreneur's choice of legal ownership for a venture are​ ________ and​ ________.
77julia77 [94]
The two primary factors affecting an entrepreneur choice of legal ownership for a venture are TAXES AND LEGAL LIABILITY.
The type of business that an entrepreneur establish will determine the type and the amount of tax that it will be required to pay. The legal liability of the entrepreneur determines the extent to which he can be liable in case he finds himself in a financial mess. The entrepreneur should try and minimize the impacts of these two factors.
5 0
3 years ago
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