Answer:
Studying his biology test
Explanation:
opportunity cost refers to the cost of the forgone alternative inorder to enjoy another service
Answer:
We have the comparison below
Explanation:
1 2 3
Expenses for the year 20000 27000 34000
PVIF at 12% 0.89286 0.79719 0.71178
PV of expenses 17857 21524 24201
Cumulative PV of expenses 17857 39381 63582
EOY MV -1000 -1750 -2500
PV of MV -893 -1395 -1779
Total PW (4000+ PV of expenses - PV of MV) 22750 44776 69361
P/A 0.89286 1.69005 2.40183
EUAC 25480 26494 28879
The answer is material math error.
An adjusting entry is essentially a bookkeeping modification that improves the accuracy of the financial statements by reflecting the revenue and spending on an accrual basis, which is typically but not always the case. At the conclusion of the accounting period, adjustments are made. This might happen towards the end of the month or at the end of the year.
Prior period adjustments are errors or mistakes committed in the prior reporting period. These mistakes must be remedied or eliminated by taking suitable corrective action. Prior period items include factual errors, arithmetic errors, and errors in applying accounting rules.
Therefore, material math error is the correct option.
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