Answer:
understated assets, retained earnings, and net income
Explanation:
As in the given case, the inventory balance at the end of the year does include the $10,000 of inventory plus it also excluded from the physical count
So, if the error is not found, the effect of this error is assets are understated instead of overstated which results the retained earnings and the net income understated
<span>Farmers who sell their fruit and vegetables to consumers at roadside stands or farmer's markets use a producer to consumer marketing channel.
Producer to consumer means that it goes straight from the person who produced the good or service to the hands of the consumer with no middle man. In this case, instead of going from producer to the grocery store and then to the consumer - they skipped the grocery store step. :)</span>
FIFO stands for First In First Out and LIFO stands for Last In First Out.
Answer: LIFO produces more favorable cash flow because LIFO PRODUCES LOWER INCOME TAX EXPENSE.
During inflation, LIFO approach is adopted for tax benefits. With the rise in prices, LIFO produces higher cost of sold amounts of goods.
Answer:
a. Select the time line that represents the cash flows involved in the offer.
NCF1 = $28,000
NCF2 = $23,000
NCF3 = $15,000
NCF4 = $15,000
NCF5 = $15,000
NCF6 = $15,000
NCF7 = $15,000
NCF8 = $15,000
NCF9 = $15,000
NCF10 = $30,000
If you want to compare this set of cash flows to another offer, you will need to calculate the present value first. E.g if you use a 12% discount rate, the PV of these cash flows = $107,570.
The correct answer is visualization.
Visualization is the term which refers to the display of complex data relationships using a variety of graphical methods. You may choose to use various types of charts and graphs in order to visually present your ideas and information.