Answer:
C. Assets are understated
Explanation:
In terms of IAS 2, Inventory cost include, the <em>purchase cost</em> , <em>conversion cost</em> and all <em>other costs directly related</em> to bringing the inventory in the correct location and condition intended for sale by the company.
The Company has not included <em>shipping costs</em> of $100 to inventory cost, hence inventory is understated and consequently this overstates the <em>cost of goods sold</em> and understate the Inventory , gross profit and net income by $100
Selling Expenses have been accounted for in error, therefore<em> Operating Expenses</em> are Overstated and <em>Net Income</em> understated by $100
Answer: D. identifies the problems or desires that the project must resolve or address.
Explanation:
A critical first step in the initiating phase of a project is to conduct a needs analysis, which: identifies the problems or desires that the project must resolve or address.
The product must perform to provide the functionality expected, solve the identified problem, and deliver the benefit and value wanted.
U.S. exports will increase, foreign imports will increase. Additionally, U.S manufacturing will likely increase, and a trade surplus may occur.
