Answer:
sales budget for January and February are given below
Explanation:
given data
luggage sets = 1700
sell = $180 each
luggage sets = 2050
sell = $180
to find out
sales budget for January and February
solution
Sales Budget
January February
Budgeted luggage sets to be sold 1,700 2,050
Sales price per unit 180 180
total sales 306000 369000
here sale is sold Budgeted luggage × Sales price
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:
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The answer is true. Hope this helps.
Answer: Franchise
Explanation: In simple words, a franchise refers to an arrangement under which one entity allows other entity to use its business models, procedures and intellectual properties etc, in return of any loyalty or other such benefit.
This is a common arrangement nowadays and is usually used by the organisations to operate their business globally.
Hence from the above we can conclude that the correct answer is franchise.
