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Elan Coil [88]
3 years ago
9

A(n) __________ is money set aside by formal action for a specific use.

Business
1 answer:
lora16 [44]3 years ago
8 0
A) appropriation <span>is money set aside by formal action for a specific use. appropriation casework bill constituent</span>
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I’m going to go with false.
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An inventory error not only affects the current year's cost of goods sold, gross profit, net income, current assets and equity,
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The correct answer is "ending inventory of one period is the beginning inventory of the next period."

An inventory error not only affects the current year's cost of goods sold, gross profit, net income, current assets, and equity, but also the next period's statements because ending inventory of one period is the beginning inventory of the next period.

That is why the manager has to be strict regarding the inventory of a company. Inventory has a cost that can be translated into money. So accountants have to be perfect regarding the inventory. So yes, ann error in keeping the inventory affects the company in that the ending inventory of one period is the beginning inventory of the next period. An internal audit can reveal the mistakes in accurately keeping the inventory. So it is better to put extra attention in the process so nothing wrong would be revealed after the audit.

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In order to do this therefore, a SWOT analysis would need to be carried out and utilized in gaining an edge over the competition.

In this case, Thomas would make sure that the expertise of all his team members are brought to bare, the company would analyze the competition to see where it is lacking in customer satisfaction, and then try to gain the upper hand by including features in their product that the competition does not have in theirs.

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