Answer:
<u>inocme statment:</u>
wages expense: understate
<u>net income</u> overstate
<u>blanace sheet</u>
wages payable: understate
Retained Earnings: overstate
Explanation:
If the adjusting entry is not made, then the expenses will be lower than it should.
Thereofre the net income will be overstate as there are more expenses but weren't recorded.
the balance sheet will not represent accurate the liabilities as there is wages payable which are not recorded.
also, in the blaance sheet the Retained Earnings account will be overstate as it include the net income which is overstate.
Answer:
Direct, upward sloping
Explanation:
Supply refers to the quantities of goods or services that firms are willing to sell to the markets are a specific price. As per the law of supply, an increase in prices leads to an increase in the quantity supplied. Therefore, the relationship between the price and quantity supplied is direct. Firms prefer to supply more products to the markets at higher prices because they will make more profits.
The supply curve is a graphical presentation of the relationship between price and quantity supplied. The supply curve is upward sloping. It originates from the bottom left corner, showing how quantities vary along the curve at different prices. Quantity supplied increases as the price rise.
Answer:
1. Technical improvements cause production costs to decline, which causes supply to increase and prices to decrease.
2. Decreased unemployment causes consumer incomes to increase which causes demand to increase and hence price to increase.
Explanation:
Demand refers to a consumer's desire to purchase a particular good or service at a given time for a specific price. Supply on the other hand, is the willingness of a producer to produce a particular good or service at a given time for specific price.
1. Production cost is a factor that influences supply. For example, cost of labor or raw material cost. When production costs fall, more products can be produced at a lesser cost. Hence'
- The supply curve shifts right from S1 to S2.
- This causes quantity supplied to increase from QS1 to QS2
- And price to fall from P2 to P1. Please refer Diagram 1 in attachment.
2. When unemployment decreases, it means that more people are working in the economy and hence their incomes are also higher. This means there is a higher purchasing power and also higher demand for products. Hence,
- The demand curve shifts from D1 to D2.
- This causes quantity demanded to increase from QD1 to QD2
- And price to increase from P1 to P2. Please refer Diagram 2 in attachment.
Sue bought a copy of her credit report and found incorrect information in it. she can request that the credit bureau correct her credit report
A credit report is a statement that provides information about your credit activity and current credit situation, such as: B. Loan payment history and credit account status. Sep 1, 2020
Loan repayments, available credit, monthly debt amounts, and other types of information help prospective lenders determine whether credit risk is high or low.
credit report is a record of a borrower's responsible debt repayment. A credit report is a record of a borrower's credit history from various sources such as banks, credit card companies, collection agencies, and governments.
Learn more about credit reports here: brainly.com/question/9913263
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When people take money out of the bank, they have to pay them back with a little more and interest is why.<span />
