1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Korvikt [17]
3 years ago
11

Guns R Us overstated its ending inventory in the current year by $5,000. The company incorrectly reported $100,000 of net income

. Explain the consequences of this error on the current period's income statement.A. Cost of goods sold will be too high by $5,000.
B. Cost of goods sold will be too low by $5,000.
C. The correct net income amount should have been $105,000.
Business
1 answer:
soldi70 [24.7K]3 years ago
4 0

Answer:

B. Cost of goods sold will be too low by $5,000.

Explanation:

Overstatement in closing inventory has two effects. First in income statement, that the cost of goods sold is decreased by the same amount that is overstated. Second is overstatement of Inventory value in the asset section of balance sheet. According to the given scenario The effect of this event should be as cost of goods sold will be too low by $5,000.

You might be interested in
When preparing a speech introduction, you should usually?
Scrat [10]
When preparing a speech introduction, you should usually preview the main points to be discussed in the body, gain the attention and interest of your audience, and <span>establish your credibility on the speech topic. This means that the correct answer is all of the above.
It is important that your introduction is interesting, presents everything you want to talk about, and convinces your audience why they should believe you.
</span>
3 0
3 years ago
When the Coffee Collective purchases advertisements on the radio announcing its new patio and encouraging dog-loving coffee drin
Ilia_Sergeevich [38]

Answer: Pioneering advertising

                                 

Explanation: Pioneering advertising refers to the advertising of  a product or service, the concept of which is fresh and none of such products had been to any market before. This kind of advertising is done for establishing a new market.

In the given case, the company wants to aware the dog lovers to know about the patio which is a new concept to the world.

Hence the correct option is E.

6 0
3 years ago
Which of the following would be most likely to increase your opportunity cost of attending college? a recession in the economy t
kipiarov [429]

Answer:

To start a job today that would permit you to earn about 50 percent more than you expected to make after graduation.

Explanation:

Opportunity cost is the cost of best next option foregone for choosing the current option. Here, the best opportunity foregone is of earning and starting the job today which will allow to earn 50 % more than what can be earned after completing the graduation, as already for graduation fees will be paid, along with further expenses. In that case if dropping graduation and starting a job was this beneficial then it would have been better.

Therefore the following has increased the opportunity cost of pursuing graduation.

to start a job today that would permit you to earn about 50 percent more than you expected to make after graduation

4 0
3 years ago
Samantha has a bakery that has been successfully run for over a year, and it’s growing in popularity. If she planned to use her
Ksenya-84 [330]

Answer:

NOT might lose customers because of a lack of innovation

NOT might not be able to attract essential new investors

Explanation:

Since in the question it is mentioned that Samantha who has a bakery is sucessfully run for a year and it is popular also. At the same time she planned for using her profits in order to cover up the similar cost that had done in the last year

So based on this, the risk she has taking is that she not want to lose his customers as there is an innovation lacking also she is not capable to attract the new investors

Therefore the same is to be considered

8 0
2 years ago
Select which of the ways that entrepreneurs improve the economy is being described:
8_murik_8 [283]

Answer: (B) Demand for products

Explanation:

 The demand for the products is basically refers to the process in which the amount of the specific products are get purchased for the particular price so that the one business organization increase their productivity and the other business meets its specific requirement.

There are basically five factors which determine the demand of products function in an organization are as follows:

  • Income of the buyer
  • Price
  • Customer choice
  • The actual price of the related other products
  • Future supply expectations

Therefore, Option (B) is correct.

4 0
3 years ago
Other questions:
  • You are thinking about investing $ 4 comma 650 in your​ friend's landscaping business. Even though you know the investment is ri
    9·1 answer
  • For each item listed below, indicate the allocation terminology for the item. Use the following terms for your answer:
    13·1 answer
  • Bill wants to get input on his business idea from his friends. Which of the following should he do?
    12·1 answer
  • Which of the following statements about the capital asset pricing model (CAPM), which is the "father" of the security market lin
    14·1 answer
  • In which part of a professional email should you be brief but highly descriptive?
    5·1 answer
  • Marcus can afford a monthly mortgage payment of $900. If he is eligible for a 30-year, 5% mortgage (where the mortgage factor is
    10·1 answer
  • Describe how McDonald's goods and services were in high demand by incorporating the ideas of needs and wants .
    14·2 answers
  • How does online retail have the potential to further complicate the issues already presented by the virus?
    6·1 answer
  • Provo, Inc., had revenues of $10 million, cash operating expenses of $5 million, and depreciation and amortization of $1 million
    11·1 answer
  • A person performs a cost-benefit analysis in order to:
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!