Answer:
C. Total assets are overstated
Explanation:
Adjusting Entry for depreciation will be as follows
Dr. Depreciation Expense XXX
Cr. Accumulated Depreciation XXX
Accumulated Depreciation account is a contra account of long term asset and deducted from the Long term assets value. By missing the above transaction the accumulated depreciation will be understated and Total assets account will be overstated.
Answer:
seek common ground
Explanation:
seeking common ground assist people of different opinion or ideas relate and agree upon a particular topic.
According to the dictionary: common ground means sharing interest, belief or opinion between people or group of people; the basis of mutual interest or agreement.
The correct answer is A.
Historical cost
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Answer:
Businesses use three types of profit to examine different areas of their companies.
1. Gross profit subtracts variable costs to revenue for each product line. Variable costs are only those needed to produce each product, like assembly workers, materials, and fuel. It doesn't include fixed costs, like plants, equipment, and the human resources department. Companies compare product lines to see which is most profitable.
2. Operating profit includes both variable and fixed costs. Since it doesn't include certain financial costs, it's also commonly called EBITA. That stands for Earnings Before Interest, Tax, Depreciation, and Amortization. It's the most commonly used, especially for service companies that don't have products.
3. Net profit includes all costs. It's the most accurate representation of how much money the business is making. On the other hand, it may be misleading. For example, if the company generates a lot of cash, and it's invested in a rising stock market, it may look like it's doing well. But it might just have a good finance department, and not be making money on its core products.
Explanation:
The correct choice would be that Carina should have subtracted 3.40 from 5.27 which lead to wrong further calculation. So, the correct option from the quoted statement is B.
The calculation can be done to find the value of <em>x </em>after quoting the correct equation and solving by further using the simplification method.
<h3>Simplification of mathematical equation. </h3>
- The computation of the amount of tomatoes can be done after assuming that the initial equation given is right.
- With the given information, we can simplify further to find that,
- So, it is clear that Carina bought tomatoes worth 2.2USD
Hence, the correct choice is B, that Carina should have subtracted 3.40 from 5.27 to find the value of tomatoes bought.
Learn more about Simplification of equations here:
brainly.com/question/2495843