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Stells [14]
3 years ago
5

The accountant of​ Omega, Inc. failed to make an adjusting entry to record​ $6,000 of unearned service revenue that has now been

earned. Assume the deferred revenue was initially recorded as a liability. Which of the following statements is​ true?A. The total revenue will be understated.
B. The total expenses will be overstated.
C. The total expenses will be understated.
D. The total revenue will be overstated.
Business
1 answer:
Galina-37 [17]3 years ago
8 0

Answer:

The answer is A. The total revenue will be understated

Explanation:

Unearned revenue is when the amount or money has been received before providing the service. For example, a manufacturer has received money from a customer for a product that will be delivered over a period of time, let's say every month.

Unearned revenue is a liability but the failure to make an adjusting entry in the income statement will understate revenue because as the product is being delivered monthly, the accountant should be recognizing it as revenue in the Income statement. As this is recognized as revenue, unearned revenue account decreases with the same amount monthly

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Which of these is NOT a safe skill to employ in the presence of road workers?
QveST [7]

Answer:

  • <em><u>C. Drive at the posted speed limit</u></em>

Explanation:

The answer choices for this question are:

  • A. Keep alert and watch out for construction barrels or cones
  • B. Slow down even if you don't think you'll hit a road worker
  • C. Drive at the posted speed limit
  • D. Keep as much distance as you can while navigating around them

Since the conditions of the road are not the best, you should drive below the posted speed of limit.

The only presence of workers on the road represent a risk for them and for you.

The number of lanes are reduced, the road could present potholes, dirt, stones, or even some substances that make the pavement slippery. You could not have good visibility.

All those risks make that you have to be extremely careful, reduce your speed, lower than than the posted speed limit.

Thus, you should:

  • A. Keep alert and watch out for construction barrels or cones
  • B. Slow down even if you don't think you'll hit a road worker
  • C. <u>NOT </u>drive at the posted speed limit
  • D. Keep as much distance as you can while navigating around them

8 0
3 years ago
Lola owns a one-half interest in the Lenax LLC. Her basis in this ownership interest is $22,000 at the end of the year, after ac
Natali [406]

Answer: $3,000

Explanation:

With a basis of $22,000, Lola received a cash distribution of $25,000.

She would therefore get a gain (loss) of,

= $25,000 - $22,000

= $3,000

Lola received a gain of $3,000.

It is worthy of note that her basis after this distribution is now zero.

8 0
3 years ago
Read 2 more answers
If i got my permit in december when can i get my license
ryzh [129]
Usually, you have to wait 6 months to get your license after you get a permit; if you get your permit in December you can get your license in June.  
3 0
3 years ago
Why is it important for businesses to their heavy users?
Dovator [93]

Answer:

The Heavy users of a business are those people who comprise about 20% of the business's consumers and yet buy so much that they bring in about 80% of the business's revenue.

Heavy users also have an impact on light users because they can market the goods to light users whether indirectly or directly when they use so much of a business's goods and services.

It is therefore very important that the business knows of these heavy users so that they can focus marketing strategies on them as well as to offer them incentives that will keep them satisfied and coming back for more because if they don't act and they lose their heavy users, their revenues will see a significant drop.

8 0
3 years ago
The stock price of Heavy Metal (HM) changes only once a month: Either it goes up by 20% or it falls by 16.7%. Its price now is $
ziro4ka [17]

The value of a one-month call option with an exercise price of $40 is $3.7.

<h3>How to calculate the value?</h3>

From the information given, the stock price of Heavy Metal (HM) changes only once a month as it goes up by 20% or it falls by 16.7% and the price now is $40.

The value of the call option will be:

= (p × 20) + (1 - p) - 16.7 = 1

where p = 0.48

= (0.48 × 8) + (0.52 × 0) / 1.01

= 3.8

Learn more about stock on:

brainly.com/question/25300925

#SPJ1

3 0
2 years ago
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