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2 years ago

A chart of accounts lists the accounts and balances at a specific time. True False

1 answer:

8 0

A chart of accounts lists the accounts and balances at a specific time is the true statement, as it a digestible breakdown of all transactions.

<h3>What is a chart of accounts?</h3>

chart of accounts is a list of all the accounting records in a company's general ledger. In a nutshell, it's an organizational tool that breaks down all of a company's financial transactions into subcategories and presents them in an easily understandable format.

Thus, it is a true statement.

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Q-mart failed to include inventory that was kept in a separate warehouse in its 12/31 end-of-the-period inventory count. Consequ

Ahat [919]

Answer:

If the ending inventory was understated, that means that the cost of goods sold will be overstated. If the cost of goods sold was overstated, then net profits were understated.

Explanation:

Imagine a company that sells shoes:

It bought 100 shoes at $100 each during the whole year and their ending inventory was 10 units. This means that cost of goods sold was (100 - 10) x $100 = $9,000. But someone discovered 5 pairs in some shelf that were not included in the ending inventory, then the real ending inventory was 15 units = $1,500 and not $1,000. That also means that the cost of goods sold was $8,500, not $9,000. Lower costs = higher profits.

6 0

3 years ago

The internal records system supplies results data, but the marketing intelligence system supplies ________ data. A. thematic B.

neonofarm [45]

Answer:

The correct answer is letter "B": happenings.

Explanation:

Marketing intelligence is a corporate philosophy that implies understanding customers, stakeholders, the market and the environment in which a company operates. It is based on the events or happening data that are collected through different activities that are held inside and outside the firm. Marketing intelligence refers to understanding what are consumers doing and how the company can influence them.

8 0

3 years ago

Which sentence does not control exuberance?

alekssr [168]

Answer:

The matter was handled really unfairly

Explanation:

Exuberance in a statement are usually identified by the use of the words - really and completely.

These words tend to give an expression of making excess effort in doing something. So exuberance is not controlled.

Overuse of intensifiers in a sentence shows exuberance and this is not ideal in business communication.

Various intensifiers include - very, definitely, really, actually, totally, extremely, and completely.

4 0

3 years ago

what are the positives and negatives of starting your career planning now while still in middle school?

andrey2020 [161]

+ is you know what you are looking for in life, what are your goals and what you need to do to achieve them.

- is getting bored soon (changing your mind), and not enjoying your childhood.

I hope i helped :)

6 0

3 years ago

Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information ab

ziro4ka [17]

Answer:

Equivalent Units 14,380

Explanation:

Beginning units 850 x (1-.6) = 340

Started Units during July 15,000

Ending Inventory 1,600(1-.4) (960)

Equivalent Units 14,380

<u>Reasoning</u>

We have to complete the beginning WIP which are laking 40% (1-0.6)

We start doing 15,000 units.

We left 1,600 units at 60% undone (1-0.4)

6 0

3 years ago