Answer:
increase the price of our products or services.
Explanation:
When the price elasticity is less than 1 (inelastic), then an increase in the price of our products or services will result in a proportionally smaller decrease in the quantity demanded. Therefore, by increasing our prices, we can increase total revenue even if the quantity demanded decreases a little.
The largest amount of money the government lays out is for the transfer program, Social Security. And its largest expenditure is for national defense. America is quite known for spending a lot of money on defending itself from any possible threat.
Answer:
Net income is overstated by $28,000.
Explanation:
As the company forget to make the adjustment entry it didn't recognize any expense for the expired insurance.
From September to December 31th 4 month of insurance has expired:
42,000 x 4 month/6 months = 28,000 insurance expense
as the expense weren't post the income statement is overstated along with the assets of the company as it doesn't have a prepaid amount for 42,000 but for 14,000
Financially responsible means to be prepared for something unexpectedly like u didn’t know was coming up or was gonna happen and it mean you need be able to support yourself with any source of income.
Answer: Note receivable collected by bank in favor of the depositor and credited to the account of the depositor
Explanation:
A bank reconciliation is when the records for a cash account of an entity are been matched to the corresponding information that are provided on a bank statement.
When preparing a bank reconciliation which ends with adjusted cash balance, the note receivable collected by bank in favor of the depositor and credited to the account of the depositor must be added to the cash balance per ledger.
