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lana [24]
3 years ago
13

At March 31, the end of the first month of operations, the usual adjusting entry transferring prepaid insurance expired to an ex

pense account is omitted. Which items will be incorrectly stated, because of the error, on (a) the income statement for March and (b) the balance sheet as of March 31? Also indicate whether the items in error will be overstated or understated.a. Income StatementInsurance Expense SelectOverstated or UnderstatedNet Income SelectOverstated or Understatedb. Balance SheetPrepaid Insurance SelectOverstatedUnderstatedCorrectItem 3Stockholders' Equity
Business
1 answer:
babymother [125]3 years ago
6 0

Answer:

A and B

Explanation:

A) income statement

insurance expense-understand net income-overstated

B) balance sheet

prepaid insurance -overstated stockholders equity -overstated

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What are the determinants of demand and provide the definition and example of each.​
yKpoI14uk [10]

Explanation:

Examples of determinants of demand are:

- The price of the good or service. - The nominal price of a good is its value in terms of money

- The income of buyers. - available to purchase a good

- The prices of related goods or services. - one of the other factors affecting demand

- The tastes or preferences of consumers. -  the subjective (individual) tastes, as measured by utility, of various bundles of goods.

- Consumer expectations. -the feelings, needs, and ideas that customers have towards certain products or services

If you have any questions feel free to ask in the comments. - Mark

5 0
4 years ago
If you cause a car accident, which type of insurance will require you to pay the least out of pocket?
Bas_tet [7]
Liability because this way you're paying less monthly but at least it covers the damage to the other vehicle
7 0
4 years ago
________ is a subset of an organization�s extranet designed to automate the business processes that occur before, during, and af
polet [3.4K]

Answer:

Supplier portals

Explanation:

  • Supplier portals (or vendor portals) are basically communication tools. They are used to transfer and manage information between a company and its vendors (suppliers).
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so correct answer is  Supplier portals

6 0
3 years ago
1. Write about whether or not you believe productivity would go up, down, or stay the same in an enterprise where the workers ar
kolezko [41]

Answer:

Productivy would go up only as long as some of the workers can become competent managers.

Explanation:

The problem with worker ownership of the means of production (the firm), which is what socialism is about, is that workers do not necessarily have managerial skill, and as result, are likely to be unable to run the company efficiently.

In case this does not happen, and the workers manage to run the company well, GDP would increase because productivity in the firm would rise. Inflation would likely fall down because more productivity means more output of goods and services, and inflation tends to have a inverse relationship with output (although it also depends on other variables like the rate of growth of the money supply).

Finally, another macroeconomic variable that would positively affected is employment rate, because a more efficient company would likely require new workers.

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<span>A restatement section 402 defect in design.</span>
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