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
larisa [96]
3 years ago
10

Without an adjusting entry for accrued interest expense, liabilities and interest expense are understated, and net income and st

ockholders' equity are overstated. True or false?
Business
1 answer:
Mrrafil [7]3 years ago
7 0

Answer:

True

Explanation:

An adjusting entry for accrued interest expense will be recorded as follows in the books of the owing entity.

Debit Interest expenses account - <em>(this will increase expenses)</em>

Credit Interest payable (liability) account - <em>(this will increase liability)</em>

Therefore, without the above adjusting entry

  • Liabilities will be understated, since the adjusting entry would have increased liability
  • Interest expenses will be understated, since the adjusting entry would have increased interest expenses
  • Net Income will be overstated, since a higher interest expense by the adjusting entry would have reduced net income
  • Stockholders' equity will be overstated, since a higher interest expense by the adjusting entry would have reduced net income which would in turn reduce stockholders' equity.
You might be interested in
A rightward shift of the supply of loans curve would
Minchanka [31]

C. increase in the interest rate

3 0
3 years ago
Luke is the type of leader that concentrates on relationships as he leads and not just tasks. According to fiedler’s contingency
elena55 [62]

Luke is the type of leader that concentrates on relationships as he leads and not just tasks. Luke is an LPC type of leader.

Option A high - LPC leader.

Fiedler's Contingency Theory of Leadership is a good reminder that leadership isn't a one-size-fits-all approach. It's possible that just because your team isn't functioning as well as it should, you aren't a competent leader. Instead, your natural leadership style might not be the best fit for your team's current demands.

You are more relationship-oriented if you rank your least favorite coworker positively on a range of different parameters. You are more task-oriented if you judge them less positively on the same criteria.

Essentially:

You're a relationship-oriented leader if you have a high LPC rating.

You're a task-oriented leader if you have a low LPC.

Building relationships, creating team cohesion, and managing interpersonal conflict are all skills that relationship-oriented leaders excel at. Task-oriented leaders are good at coordinating projects and teams to get things done quickly and efficiently.

Disclaimer: The question was incomplete. Please find the full content below.

Question: Luke is the type of leader that concentrates on relationships as he leads and not just tasks. According to Fiedler’s Contingency Model, Luke is what type of leader?

A) A moderate-LPC leader

B) An adequate-LPC leader

C) A high-LPC leader

D) A low-LPC leader

Learn more about relationships at

brainly.com/question/10286547

#SPJ4

3 0
2 years ago
Identify the possible reason or reasons for this stark difference between income inequality and consumption inequality. Intergen
Fudgin [204]

Answer:

  • The richest quintile has the ability to save a larger percentage of its income.
  • Individuals experiencing temporary fluctuations in their incomes are more likely to maintain moderate spending habits.

Explanation:

First part of this question reads:

In the United States, the richest quintile of the population receives 13 times as much income as the poorest quintile. However, the richest quintile only spends 4 times as much as the poorest quintile.

The richest quantile can afford to save more than the poorest quantile because they get enough income to manage their daily needs and then save. The poorest quantile on the other hand face a daily struggle and so have to spend all or most of their income to survive.

When the richer quantile goes through temporary fluctuations, they maintain moderate spending because they know it is temporary and so they keep saving. This is not the case for the poorer quantiles who have to spend according to their income - regardless of its fluctuating - to survive.

7 0
3 years ago
A customer comes into your shop carrying a gorgeous oval bowl. It’s very large and low, and has a pale gray crackled glaze. He t
ivann1987 [24]
<span>To keep the tulips from bending as they often do, you tie them with raffia, a technique known as B. skeletonizing

This type of technique helps the flowers be tied together. The raffia is used like a skeleton for the flowers to stand straight. It supports the tulips, preventing them from bending. </span>
8 0
3 years ago
Read 2 more answers
The raw materials or reactants of the photosynthetic process include
Firdavs [7]
<h3><u>Full Question:</u></h3>

The raw materials or reactants of the photosynthetic process include

A. glucose and oxygen.

B. carbon dioxide and glucose.

C. carbon dioxide and water.

D. carbon dioxide and oxygen.

The raw materials or reactants of the photosynthetic process include carbon dioxide and water.

<h3><u>Explanation:</u></h3>

The process by which the light energy obtained from the sun is converted into chemical energy is photosynthesis. This process takes place in all plants having chloroplast pigments. The raw materials of this process is water and carbon dioxide.  

In the photosynthesis process water, carbon dioxide and minerals will be converted into oxygen and some organic compounds that are filled with energy. This acts as an energy source for the plants to survive. This process will not be possible in the absence of the chloroplast pigment.

3 0
3 years ago
Other questions:
  • "A customer has an existing margin account and wants to write five covered calls against 500 shares of stock in the account. The
    6·1 answer
  • A strategic business unit​ (SBU) of a major corporation has high market share in its​ industry, but the growth rate of the indus
    11·1 answer
  • Bagrov Corporation had a net decrease in cash of $14,500 for the current year. Net cash used in investing activities was $56,500
    12·1 answer
  • A customer of a brokerage firm in liquidation has an individual account with $300,000 in securities. The customer and his wife h
    9·1 answer
  • Suppose that in Mexico, it takes four labor hours to produce one shirt and 10 labor hours to produce one computer. Suppose that
    11·1 answer
  • What will be the inventory Cost that was valued at 286000 valued at<br>.And obsolete cost is 8400​
    14·1 answer
  • business to business is selling to a customer that is not the end of the consumer. which of these best describe the business to
    14·1 answer
  • A necessary condition to use the equity method of reporting for an equity investment is that the investor company must
    9·1 answer
  • Lunker Lures makes ten different models of fishing lures. All ten models are completely crafted by hand using the same basic mat
    8·1 answer
  • Contribution margin ______.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!