Answer:
The people of Texas authorize the borrowing of money on behalf of government through:
Explanation:
- The special elections generally are held to fill the vacant seat of member of house of representative in case of death or resignation and are called by the governor.
- The special elections in Texas are held to fill the vacant seat of member of house of representative, to give approval for the borrowing of money on the behalf of government and to ratify the amendments occurred in the constitution of the state.
Answer:
A work point is an independent entity whose location is defined in space.
Explanation:
Work points may be placed or projected onto part faces, linear edges, or onto an arc or circle. Work points can be constrained to the center points of arcs, circles, and ellipses.
The total amount of quick assets is equal to $119,232. therefore, Option B is the correct statement.
<h3>What are Quick Assets?</h3>
Quick assets encompass cash available or current assets like accounts receivable that may be transformed to cash with minimum or no discounting.
Companies have a tendency to use the short assets to cover short-time period liabilities as they arrive up, so speedy conversion into cash (excessive liquidity) is critical.
Inventories and prepaid expenses aren't quick assets due to the fact they may be hard to transform into cash, and deep discounts are sometimes needed to do so.
The amount of quick assets is equal to Accounts receivable plus Cash plus Marketable securities.
Quick assets = $67,719 + $20,980 + $30,533
Quick assets = $119,232
Hence, the total amount of quick assets is equal to $119,232. Option B is the correct statement.
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Under these conditions an efficient solution can be reached regardless of the initial assignment of property rights.
Answer:
a. Overstates Year 1 cost of goods sold.
b. Understates Year 1 net income
c. Understates Year 2 cost of goods sold
Explanation:
a. The formula for Calculating the Cost of Goods sold is;
<em>Cost of Goods Sold = Opening inventory + Purchases - Closing inventory.</em>
If the closing inventory is understated, it will reduced the amount being subtracted from Purchases and Opening inventory which would means that Cost of Goods sold will be overstated.
b. The Cost of goods sold is deducted from sales to give Gross profit. If Cost of goods is overstated, it will reduce Gross Profit higher than it should. A lower Gross Profit equates to a lower Net Income.
c. Going by the formula in <em>a;</em>
<em>Cost of Goods Sold = Opening inventory + Purchases - Closing inventory.</em>
In Year 2, the understated Year 1 closing stock will become the understated Year 2 Opening stock. With the opening stock understated, the Cost of goods will be understated as well because Opening stock is meant to increase Cost of goods sold as the formula shows. If it is understated, the amount that it will add will be understated as well.
