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Evgen [1.6K]
3 years ago
14

If a material error is discovered in an accounting period subsequent to the period in which the error is made:

Business
1 answer:
boyakko [2]3 years ago
5 0

Answer: Any previous years’ financial statements are retrospectively restated to reflect the correction.

Explanation:

If an accounting error that is material is discovered in a period after the period that the error was made, every financial statement that was affected will have to be restated so that the correction is reflected by them. This was the entries on the books will be more accurate.

For instance, if a material error that occurred in 2017 is discovered in 2020, then the '17, '18 and the '19 statements have to be corrected to reflect that there was an error that needed correcting.

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What is the equilibrium quantity for phones?
Nana76 [90]

Answer:

Readjusting once again to marketplace conditions, the next year the company produces 65,000 phones, with a retail price of $45. At the end of the year, the company’s sold almost its total supply of phones. It indicates that the equilibrium quantity of phones is 65,000, at a retail price of $45 (which would be the equilibrium price). More Resources

Explanation:

According to our curve, the equilibrium point initially is indicated by point E on the graph, but since the supply of cellphones has increased, quantity supplied increases to the graph indicated by S 1 S 1, this causes an excess of the product in the market resulting in a stiff competition which often sees the sellers reduce their prices. hope that helps.

3 0
2 years ago
___ of breaches are caused by stealing a password
Svet_ta [14]

The answer is letter e. A Very high percentage (around 80 percent). Around eighty percent of breaches are caused by stolen passwords. Passwords can be stolen by hackers in many ways, especially if they are common, so it would be best to update your password regularly and make sure that your password is secure and hard.

3 0
3 years ago
Capital allocation line is _______________ Question 18 options: plot of risk-return combinations available by varying portfolio
NemiM [27]

Answer:

plot of risk-return combinations available by varying portfolio allocation between a risk-free rate and a risky portfolio

Explanation:

The capital allocation line (CAL) is called as the capital market line tha developed on the graph for all the expected combinations related to the risk-free and risk assets. In this, the graph presented the return investor that expected earn by assuming the particular level of risk along with the investment

Therefore the first option is correct

7 0
3 years ago
True or False: Theoretically, a country in which price inflation is very high should expect to see its currency depreciate again
sveticcg [70]

Answer: <u>The correct answer is TRUE.</u>

Explanation:  

Inflation: sustained and widespread increase in the price level. This means that inflation reflects the loss of the purchasing power of the currency. Therefore the currency is devalued against that of the countries in which the inflation rate is lower or zero.

6 0
3 years ago
The current u.s. economy is based primarily on the production of
malfutka [58]
The current U.S. economy is based primarily on the production of services. Services are expert work performed by teams for customers, such as products, accountancy, consultation, banking, cleaning, education, insurance, and treatment, for example. 

6 0
3 years ago
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