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
laiz [17]
3 years ago
8

A law firm received $2,500 cash from a client for legal services to be rendered in the future. The full amount was credited to t

he liability account Unearned Service Revenue. If the legal services have been rendered as of the last day of the accounting period, but no adjusting entry is made, this would cause
a.expenses to be overstated.
b.net income to be overstated.
c.liabilities to be understated.
d.revenues to be understated.
Business
1 answer:
Savatey [412]3 years ago
5 0

Answer:

D.

Revenues to be understated

Explanation:

Understated amounts indicate a reported amount is not correct and the reported amount is less than the true amount.

You might be interested in
S'Round Sound, Inc. reported the following results from the sale of 24,000 units of IT-54:
Alisiya [41]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Total Variable manufacturing costs 288,000

Unitary variable costs= 288,000/24,000= $12

Rhythm Company has offered to purchase 3,000 IT-54s at $16 each. No variable selling costs will be incurred.

Because it is a special offer and there is available capacity, we will not have into account the fixed costs.

Effect on income= 3,000*(16-12)= $12,000 increase

3 0
3 years ago
Strategic leaders use internal and external analyses in tandem to create a customized fit between a company's ______.
sweet-ann [11.9K]

Strategic leaders use internal and external analyses in tandem to create a customized fit between a company's internal resources and external environment.

<h3>Who are Strategic leaders?</h3>

The center of attention for organizational learning is on strategic leaders. They encourage an environment of inquiry and look for lessons in both successful and bad results.

Organizational structure, resource allocation, and strategic vision are all functions of strategic leaders. Strategic leaders deal with extremely complex challenges in an uncertain environment while also being influenced by external events and organizations.

Process simplification, increased strategic productivity, and innovation are all benefits of strategic leadership. Employees may be independent, productive, and push for new ideas under this leadership. Programs for incentives and rewards are essential for strategic leaders. They support staff members in achieving their strategic objectives.

To know more about strategic leaders refer to:brainly.com/question/15171930

#SPJ4

8 0
2 years ago
Wattan Company reports beginning inventory of 11 units at $65 each. Every week for four weeks it purchases an additional 11 unit
larisa86 [58]

Solution:

Activity Units Units cost Cost of Goods Available

Beginning Inventory                11     $65.00      $715

1st week purchase                   11      $66.00     $726

2nd week purchase                 11      $67.00     $737

3rd week purchase                  11      $70.00     $770

4th week purchase                  11      $75.00     $825

Units available for sale            55

Cost of goods available for sale                       $3,773

5 0
3 years ago
When developing marketing plans, what should a firm consider about their competition?.
nasty-shy [4]

When a company develops marketing plans, it must consider the weaknesses and reactions of competitors, so that it can identify the action necessary to maintain the company's competitive advantage.

<h3 /><h3>Marketing Plans</h3>

Corresponds to a document that details all the course of action of a company to achieve its marketing objectives, which are related to generating value for its products and services and positioning for the organization.

Therefore, the analysis of the external environment, such as the economy and competitors must be considered, so that the company can identify strategies to carry out the best decision making and maintain the flow of its activities as planned.

Find out more information about marketing plan here:

brainly.com/question/9027729

6 0
2 years ago
A cash equivalent is a short-term, highly liquid investment that is readily convertible into known amounts of cash and Group of
rewona [7]

Answer:

so near its maturity that it presents insignificant risk of changes in interest rates.

Explanation:

As we know that the cash equivalent i.e .short term and also classified as the highly liquid investment that is always ready to convert into the cash amount i.e. near to its maturity also at the same time it represent the non-significant changes risk with respective to the rate of interest

Therefore the last option is correct

8 0
3 years ago
Other questions:
  • Besides their own team accounts, sales managers at Universal Containers need to have READ access to all accounts of the same seg
    13·1 answer
  • A monopolistic producer of caviar has historically sold all of its caviar to 10 distributors. Recently, one of the distributors
    10·1 answer
  • Gloria's employer deducted 20 percent of her pay in the month of january due to personal problems he had with her. under the lil
    14·1 answer
  • Nick and Teresa are debating the pricing strategy of several airlines. Nick argues, "When airlines restrict discounted tickets t
    8·1 answer
  • Which of the factors listed below contribute to the market value of a going concern? intangible assets market value of assets va
    11·1 answer
  • Colicchio Corporation acquired two inventory items at a lump-sum cost of $60,000. The acquisition included 3,000 units of knife
    11·2 answers
  • Hailey, Inc., has sales of $19,570, costs of $9,460, depreciation expense of $2,130, and interest expense of $1,620. Assume the
    7·1 answer
  • Cash received prior to delivering a product or performing a service is called what
    8·1 answer
  • A firm has a debt-total asset ratio of 61 percent and a return on total assets of 11.4 percent. What is the return on equity
    11·1 answer
  • The goal of investing $50 per month for the next 12 years for your nephew's college fund is a(n):______goal.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!