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
denis-greek [22]
3 years ago
5

An architecture firm earned $1960 for architecture services provided with the fee to be paid in the future. No entry was made at

the time the service was provided. If the fee has not been paid by the end of the accounting period and no adjusting entry is made, this would cause:
Social Studies
2 answers:
marta [7]3 years ago
8 0

Answer: Revenue to be understated

If the fee has not been paid by the end of the accounting period and no adjusting entry is made, this would cause revenue to be understated.

Explanation:

Businesses may be tempted to understate their COGS in order to make their business model look more attractive and their profit more sustainable, making them better candidates for loans. A lower COGS makes the financial statements more attractive – at least until it comes time to pay taxes on the earnings

Fraud in financial statements takes the form of overstated assets or revenue or understated liabilities and expenses. Overstating assets and revenues falsely reflect a financially stronger company by the inclusion of fictitious asset costs or artificial revenues.

statuscvo [17]3 years ago
4 0

Answer:

By not  recording the $1,960 in the books of account, revenue for the period would be understated by $1,960

Explanation:

The accrual concept of accounting requires that revenue should be recognized when it has been earned and expense recorded when it has been incurred.

Earning revenue implies that the goods have been delivered or that the necessary services have been rendered.This means that recording revenue has not nothing to do with cash receipt as receiving cash only relate to cash flow position.

The omission of the $1,960 from the books on the basis that cash has not been received means that revenue is understated as well as the profit for the period under consideration.

You might be interested in
The original intelligence test developed by Binet and Simon set out to measure performance in ______________, which refers to th
zubka84 [21]

Answer:Mental age

Explanation:

According to the theory created by Binet and Simon ,intelligence was measured through test.They worked upon age related intellectual ability of children through testing it by creating particular intelligence baseline.

They focus their first step towards children with special requirement for assessing their mental age in respect with chronological age through test to know their performance.  This test helped to know about children's mind and support them for their need as per mental requirements.

4 0
3 years ago
Answer this question please
Mamont248 [21]
Needing the land and disease is your answer
3 0
3 years ago
In an attempt to order pizza by telephone, Sue keeps repeating a telephone number over and over after reading the telephone guid
sergejj [24]

Answer:

phonological loop.

Explanation:

Phonological loop can be defined as the portion of the human working memory that is typically responsible for handling auditory and verbal informations (data) such as music, language, etc.

Generally, it is often more difficult for individuals to hold or retain many long words than it is to hold short words in mind in the phonological loop, this is called a word-length effect.

In an attempt to order pizza by telephone, Sue keeps repeating a telephone number over and over after reading the telephone guide. She is using the phonological loop.

6 0
2 years ago
AM<br> 3. Medication is<br> the only<br> solution to mental health struggle<br> Edna Knight 11:59 AM
Mazyrski [523]

Answer:

..........

Explanation:

3 0
3 years ago
We should stand up against the threat of tyranny so that it does not spread.
miv72 [106K]

Answer:

it is true we should!!!!

7 0
3 years ago
Other questions:
  • Jim wants to rename a directory for a project that he has been working on. Which of the following commands can he use to perform
    7·1 answer
  • Manuel is one of the top salespeople at Bloomingdale's menswear department. Although Manuel doesn't like the fact that some of t
    12·1 answer
  • What does Canada specialize
    8·1 answer
  • PLEASE HELP FOR RELIGION!!!! 15+ POINTS
    5·1 answer
  • What medium was used primarily for Buddhist art in Nepal? a. rubberwood b. marble c. metal d. cypress
    12·1 answer
  • Why did trade along the silk road flourish during the time of Han,Kushan,Parthian,and Roman empires
    14·1 answer
  • Some lawyers working for the Department of Justice worry that Google is abusing its power and behaving like a monopoly in the wa
    12·1 answer
  • What role did technology play in the spread of mass culture at the turn of the 20th century?
    13·1 answer
  • One object has a positical electrical charge and another object has a negative electrical. Will these object be attracted to one
    7·1 answer
  • In this religion the three most important deities (gods) included Shiva, Vishnu, and Brahma.
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!