Answer:
C. Proceeds from the disposal of a long-term asset with no gain or loss.
Explanation:
Operating activities: it involves those transactions that after net income written impact the working capital. It would subtract the rise in current assets and a reduction in current liabilities, while adding the decline in current assets and an increase in current liabilities.
It would adjust the changes in working capital. In addition, the depreciation expense adds to the net revenue. And the loss on asset sales is added, while the gain on asset sales is deducted
The answer to this statement is True goods and services can be easily balanced and purchased at certain prices and if needed the prices will increase
Answer:
4. understated by $64000
Explanation:
Purchase cost increases the cost of goods sold and reduces profit before tax (PBT) income.
Similarly, closing inventory balance increases profits before tax income.
In the given case, purchase cost is understated by $40,000 less $4000 i.e $36000. This would overstate the profits by $ 36000. Whereas, omission of closing inventory from records of $100,000 would understate profits by $100,000.
Thus, the net effect of the two mentioned omissions and errors would lead to understated profits by $100,000 less $36000 i.e by $64,000.
Exclusive powers are the rights that ONLY that governing body has the ability to do.
A local government can collect taxes from a foreign business, but so can the federal and state governments.
The state cannot allows allow a business to operate in a city, if the city objects .
ONLY the US Federal Government can signs treaties with another country.
This is the only exclusive power in the choices listed.
