Answer:
B. Cost of goods sold will be too low by $5,000.
Explanation:
Overstatement in closing inventory has two effects. First in income statement, that the cost of goods sold is decreased by the same amount that is overstated. Second is overstatement of Inventory value in the asset section of balance sheet. According to the given scenario The effect of this event should be as cost of goods sold will be too low by $5,000.
Answer:
2) the time consumers save when purchasing goods there.
Explanation:
Their name explains everything. A convenience store is a store where someone can go and purchase goods easily and without any type of difficulty.
Of course a Walmart is cheaper, but will you travel 20 minutes just to get there, and spend 20 more minutes choosing and paying for a cheap good like a Coke, and then 20 more minutes back home. Whatever you save on buying the Coke, you will spend 50 times more in gas and personal time.
So even if a Coke costs $1 more in a 7-Eleven, it is worth it. You will save a lot of money by purchasing your Coke there.
I believe the correct answer from the choices listed above is the third option. Explicit costs are easily identified because a recent market transaction is available to provide an accurate measure of costs. It <span>is a direct payment made to others in the course of running a business, such as wage, rent and materials.</span>
A. For knowing today's value of the bequest we need to know the period of time.
When the first payment occure and how many payments were made.
b. Immediate value of bequest is $3,000 After one year it needto be 1.16*3,000=$3,480 Plus the second payment will be 1.04*3,000=$3,120
