Answer:
Desgro’s complaint was filed too late. With this being stated, the suit would be dismissed because the contract explicitly states that complaints have to be within the 12 month timespan.
Explanation:
Desgro’s complaint was filed too late. With this being stated, the suit would be dismissed because the contract explicitly states that complaints have to be within the 12 month timespan due to the fact that Desgro discovered issues with the plumbing, insulation, heat pump, and floor support after buying the house in which he decided to filled a suit in a Tennessee state court against Pack after Thirteen months which was after the inspection and after signing the standard-form contract that included a twelve-month limit for claims based on the agreement which is why the suit would be dismissed because the contract explicitly states that complaints have to be within the 12 month timespan which Desgro failed to comply with.
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The impact of the given error on the financial statement should be an overstatement of the assets.
- Since the adjusting entry for depreciation is omitted i.e.
Depreciation expense Dr XXXXX
To accumulate depreciation XXXXXX
(being depreciation expense is recorded)
Here depreciation expense is debited as it increased the assets and credited the accumulated depreciation as it decreased the assets.
So if the above journal entry is omitted so it means the assets should be overstated.
Learn more about the depreciation here: brainly.com/question/15085226