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.
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Answer:
Is the proposed action legal?
Explanation:
The very first step in the decision tree (below) was ignored. Disregarding local laws is ignoring the question of legality.
Answer:
$5,354,741
Explanation:
assets:
cash $3,290,558
inventory $2,657,360
accounts receivable $577,102
fixed assets $4,019,047
total assets = $10,544,067
liabilities:
accruals $576,944
accounts payable $2,519,541
notes payable $610,904
long-term debt $1,481,937
total liabilities = $5,189,326
equity = assets - liabilities = $10,544,067 - $5,189,326 = $5,354,741
Answer:
Option "A" is correct. Expected amount of misstatements
Explanation:
Answer:
Organizational justice
Explanation:
Organizational justice concerns employees' understanding of fairness, results, and processes within a company. Distributive, procedural, and interactional are the three types of organizational justice that companies must embrace in order to have happy and productive employees.
