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Fiesta28 [93]
2 years ago
12

Prior period adjustments to financial statements can result from: Multiple Choice Changes in estimates of salvage value. Materia

l math errors. Discontinued operations. Changes in tax law. Changes in estimates of useful life.
Business
1 answer:
AveGali [126]2 years ago
4 0

The answer is  material math error.

An adjusting entry is essentially a bookkeeping modification that improves the accuracy of the financial statements by reflecting the revenue and spending on an accrual basis, which is typically but not always the case. At the conclusion of the accounting period, adjustments are made. This might happen towards the end of the month or at the end of the year.

Prior period adjustments are errors or mistakes committed in the prior reporting period. These mistakes must be remedied or eliminated by taking suitable corrective action. Prior period items include factual errors, arithmetic errors, and errors in applying accounting rules.

Therefore, material math error is the correct option.

To know more about adjustment to financial statements click here:

brainly.com/question/24178504

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The Burgers 4 Upper U Restaurant Group supplies its franchise restaurants with many​ pre-manufactured ingredients​ (such as bags
Brut [27]

Answer:

variable overhead rate 11.96 dollars

Explanation:

5,189,000 manufacturing overhead from which:

2,486,000 are fixed so:

<u>variable overhead: </u>5,189,000 - 2,486,000 = 2,703,000

this overhead is generated from machine hours thus we divide the expected overhead over the machine hours  to know the rate.

2,703,000 / 226,000 = 11.96017699 = $ 11.96 variable overhead rate

7 0
3 years ago
The average starting salary for this year's graduates at a large Texan university is $45,000, with a standard deviation of $4,00
4vir4ik [10]

Answer:

The probability that a randomly selected graduate will have a starting salary of $50,000 or more is 10.56%

Explanation:

The formula for calculating a z-score is:

Z=\frac{x-μ}{σ}

Where:

x=Score in this case is $50,000

μ=Mean or average of the salary: $45,000

σ= standard deviation of $4,000.

Z=\frac{50000-45000}{4000}

Z= 1.25

This value has an associated probability of 0.8944= 89.44%, this means 89.44% of graduates will have a starting salary of $50,000 or less.

But if we want to know the probability that the graduate has a salary of $50,000 or more, taking into account a population of 100%=1

1-0.8944= 0.1056

Which represents that 10.56% of population of graduates will earn $50,000 or  more.

7 0
3 years ago
there is some concern that increased use of could prompt the need for legislation protecting employee privacy rights.
djyliett [7]

There is some concern that increased use of electronic databases could prompt the need for legislation protecting employee privacy rights.

An electronic database is a computer-based collection also listing of the information. Through this the information can be searched in a fast and easy manner.

Electronic databases held organized collections of data, or information, which is thus stored in a computer in a readable form. So sometimes, the increased use of electronic databases might probably prompt the need for legislation which protects employee privacy rights.

Hence, the electronic databases can make it easier to search, query, filter and retrieve required data.

To learn more about legislation here:

brainly.com/question/13672467

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6 0
2 years ago
A rule promulgated by the Environmental Protection Agency (EPA) limits the amount of carbon that can be emitted from a car's exh
AleksAgata [21]

Answer:

The answer is: B) ​the EPA's decision takes precedence.

Explanation:

The Supremacy Clause (Article VI, Clause II of the Constitution of the United States of America) states:

"This Constitution, and the Laws of the United States which shall be made in Pursuance thereof; and all Treaties made, or which shall be made, under the Authority of the United States, shall be the supreme Law of the Land; and the Judges in every State shall be bound thereby, any Thing in the Constitution or Laws of any State to the Contrary notwithstanding."

This means that the federal government and its laws, treaties and rules have precedence over state or local laws.

4 0
3 years ago
Mitchell and Powell form Green Corporation. Mitchell transfers property (basis of $105,000 and fair market value of $90,000) whi
zheka24 [161]

Answer:

Neither Mitchell nor Powell has any gain or any loss

Explanation:

8 0
3 years ago
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