Answer:
C Liabilities are understated, and net income is overstated.
Explanation:
To accrue for interest expense, the required entries are;
Debit Interest expense (p/l)
Credit Accrued Interest (B/s)
Being entries to recognize accrued interest expense.
If this is not posted, liabilities and expenses for the period would be understated. As such, net income would be overstated.
Hence the right answer is C Liabilities are understated, and net income is overstated.
This is true. A decision made at work typically has an obvious answer.
I’m not sure but roughly 2.66. PLEASE don’t get mad if I’m wrong
Answer:
Economical factors, company reasons, innovative leadership, business growth, and competitor actions are common causes of business change.
Explanation:
The economic factors influencing business activities
In a country concerned with the production, distribution, and use of goods and services, the economy includes all activities.
The economic environment has a major impact on companies. Consumer expenditure affects prices, investment decisions, and the number of employees employed by enterprises.
In four main ways, the economic climate affects companies:
- Consumer income change levels
Answer:
The classified list of items is as follows:
(a) Issuance of ownership shares - Common stock
(b) Land purchased - Asset
(c) Amounts owed to suppliers - Liability
(d) Bonds payable - Liability
(e) Amount earned from selling a product - Revenue
(f) Cost of advertising - Expense
Hence, all the items are classified as asset, liability, revenue, common stock and expense.
