a. any type of activity that requires movement
Physical activity is defined as any type of activity that requires movement. The other responses represents some form of physical activitity, but they do not define what the words actually means. Grocery shop is not a sport nor a planned activity, but it is still a physical activity, so with this example it is possible to deduce that any type of activity that requires movement is a physical activity.
D because in the cover letter its more like a interview where you talk about yourself rather than only talking about your strengths and weaknesses and what your applying for
Depreciation of noncurrent operating assets is an accounting process for the purpose of allocating asset costs over the periods benefited by use of the assets.
Depreciation refers to an expense for a business to use non-current asset in order to generate economic benefits. Here the purpose of depreciation is to have balance sheet report the current value of an asset.
An accounting method used to allocate the cost of a tangible or physical asset over its useful life is known as depreciation. Companies usually take depreciation regularly so they can move their asset costs from their balance sheets to their income statements.
Hence, depreciation of noncurrent operating assets are benefited by use of the assets.
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Answer:
a. Assets were understated by $5,000 and pretax income was understated by $5,000.
Explanation:
Inventory are part of Current Assets in the Balance Sheet. This means that when they are understated, the Assets are also understated. Also understated inventory means that cost of sales are overstated in the Income Statement and consequently, Gross Profit and Pre-tax Income are understated.
As per the given situation, Gus' Grill, a food truck restaurant in an urban city, worked with a local bank for a line of credit. Thus the correct answer is D.
<h3>What is a line of credit?</h3>
A Line of Credit is a contract that a financial institution mainly a bank has with a customer that specifies the largest loan amount the customer is permitted to take out.
The borrower is permitted to draw money from the LOC whenever they need it, as long as they don't go over the maximum limit mentioned in the agreement.
Gus Grill may even use the unsecured source of money if he required quick cash for the company; this is referred to as the Line of Credit.
Therefore, the option D line of credit is the appropriate answer.
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