The answer to this question is a decision support system. Decision
support system is a system that helps businesses to help make a decision by
putting together all data and information to make decisions and solve the
business problems. These are the sample types of decision support system; Data
driven system, communication driven system, and knowledge driven system.
Answer: Overstated, no effect, Overstated
Explanation:.
Since there's a double counting, this will lead to the overstating of the inventory which brings about an increase in the asset.
On the other hand, there's no effect on the liability. Lastly, the stockholder's equity is overstated as well as there's an increase the net income due to the overstated inventory.
Deposits outstanding refer to cash receipts that have been documented in the accounting records of the business but have not yet been recorded by the bank.
<h3>What is an Outstanding Deposit?</h3>
A monetary sum that has been recorded by the receiving business but hasn't been recorded by its bank is known as an outstanding deposit. On the recurring bank reconciliation created by the receiving company, all unpaid deposits are reported as reconciling items. The receiving entity's book balance is reduced from these deposits to determine the bank balance.
When a bank reconciliation is conducted, there are often few of these deposits indicated as reconciling items because they are typically just outstanding for one business day.
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Based on this information alone, the company's retained earnings equal $3,000.
<h3>Retained earning</h3>
Using this formula
Retained earning= Assets-liabilities-Common stock
Where:
Assets=$10,000
Liabilities=$2,000
Common stock=$5,000
Let plug in the formula
Retained earning=$10,000-$2,000-$5,000
Retained earning=$3,000
Inconclusion the company's retained earnings equal $3,000.
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