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Mariulka [41]
3 years ago
15

The failure to record a purchase of mer chandise on account even though the goods are properly included in the physical inven to

ry results in
Business
1 answer:
xeze [42]3 years ago
6 0

Answer: D. an understatement of expenses and an overstatement of owners' equity

Explanation:

If a purchase of merchandise was not recorded, it would mean that Purchases being <u>an expense</u> that contributes to the Cost of Goods sold would be understated.

This understatement would mean that the the Net income is overstated because the purchase expenses were never deducted from it. Net Income is part of owners' equity so if it is overstated, so is owners' equity .

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Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
6 0
3 years ago
A ___ warranty promises replacement or refund for defective products.
Romashka [77]

Answer:

I think it is a guarantee.

3 0
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In a neoclassical economy, assume that the government lowers both government spending and taxes by $100 billion. If the marginal
Zigmanuir [339]

Answer:

rise by $40 billion

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