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Kruka [31]
3 years ago
4

Phipps Corporation overstated its ending inventory on December 31, Year 1. Which of the following correctly identifies the effec

t of the error on Year 2 financial statements? Multiple Choice Cost of goods sold is overstated. Gross margin overstated. Ending inventory is understated. Net income is overstated.
Business
1 answer:
AveGali [126]3 years ago
8 0

Answer:

Cost of goods sold is overstated.

Explanation:

Since in the question it is mentioned that the ending inventory is overstated on December 31, Year 1 financial statements due to which the effect of this error results in the financial statements on year 2 is the overstated of the cost of goods sold

Hence, the first option is right

Therefore, the other options are wrong

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To increase and improve employees' work efforts in organizations, organizations should link ________ to ________ such as bonuses
Yanka [14]

Answer:

its c

Explanation:

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3 years ago
Why would a business ower lower the price of a product
Ray Of Light [21]

Answer:

he would do so becaus the canadiens wer smugling syrup and it was making trhe price go yeet, so ppl who didnt sell at thaat price had to lower or go ot of business!1

Explanation:

7 0
3 years ago
Read 2 more answers
_________ is formed when a firm entering a market pools its resources with those of a local firm. (more control, more risk relat
telo118 [61]

Answer:

Joint venture

Explanation:

Typically , joint venture is formed in order to:

- Pursue a new emerging market

To pursue an emergency market, two companies who operate in a similar industry can join their resources to face off larger competitors. Even though they might lose a little bit of control over the business, the profit that obtained from beating their competitors might be enough to cover the inconvenience

- increase the efficiency of their operation

Sometimes, companies also create a join venture because both parties involved have infrastructure that complement each others. Rather than purchasing new assets, creating a joint venture might be a cheaper option.

- Reduce the Risk of the operation

Creating a joint venture will also cut of the percentage of the profit that each parties initially obtain. But, the risk from potential loss will also be divided between each parties involved in the joint venture.

5 0
3 years ago
The Bureau of Labor Statistics reported in 2005 that there were 28.19 million people over age 25 who had no high school degree o
Anuta_ua [19.1K]

Answer: Option (B) is correct.

Explanation:

Given that,

Total population of group = 28.19 million

Employed = 11.73 million

Unemployed = 1.04 million

Total labor force = Employed + Unemployed

                            = 11.73 million + 1.04 million

                            = 12.77 million

Labor-force participation rate = \frac{Total\ Labor\ Force}{Total\ Population} \times 100

                                                  = \frac{12.77}{28.19} \times 100

                                                  = 45.29%

                                                   = 45.3%

Unemployment rate = \frac{Unemployed}{Total\ Labor\ Force} \times 100

                                  =  \frac{1.04}{12.77} \times 100

                                  = 8.14%

3 0
3 years ago
The role of the board of directors in an organization is to:
poizon [28]

Answer:

OPTION A

Explanation:

The primary function of an organization's board of directors is to control the actions of the upper management team to make sure that the interests of shareholders are safeguarded.

PRIMARY FUNCTION OF BOARD OF DIRECTORS

Assess the vision and mission of the company to direct its present activities and potential development and set the agenda.

Review and assess current and future possibilities, threats, and hazards in the internal setting and the company's current & future strengths, weaknesses, and hazards.

4 0
3 years ago
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