Answer: im also working on my school work and i also need help i tried to work on that question im confused but i know that 22,567-97% is 677.01
Answer:
Indication of items erroneously stated on:
A) the income statement for the year
Salaries Expense will be understated.
Therefore, the Net Income will be overstated.
B) the balance sheet as of October 31:
Salaries Expense Payable (current liabilities) will be understated.
Explanation:
When accrued salaries are not accounted for in the financial statements for an accounting period, it means that the revenues generated for that period are not being matched with the expenses incurred in generating the revenues. Such omission does not agree with the accrual concept and the matching principle of generally accepted accounting principles. These require that expenses are accrued whether paid for or not, and that expenses are matched to the period's revenue since they are necessarily incurred in generating such revenue.
Local economics differ from national economics because locally different cities vary in population, the environment where they live and the location. Each of these factors change how items are produced and consumed and play into the national economic level. The population where you live helps determine the demand and supply of items in the area. The environment in which you live (natural disasters, resources, land type) determine the types of goods and services that are available and important in the area. The location in which you live helps determine the ease or difficulty of receiving items in the region you live in.
1. Psychiatrist requires the most education
