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Tom [10]
3 years ago
14

A company's financial statements may contain errors even if debits and credit balance because:

Business
1 answer:
emmasim [6.3K]3 years ago
6 0

Answer:

B. correct but equal amounts may have been posted to wrong accounts

Explanation:

It is possible that in the presence of the errors the debits and credits side remains balance.

Following errors may balance the debits and credits

  • Error of omission ( Transaction is totally omitted)
  • Error of commission (posting in wrong accounts by same value)
  • Error of Principle (Entry made against the principle of accounting)
  • Error of Original Entry (Wrong amount posted on both debit and credit sides)
  • Compensating error (Two errors compensate each others effect)

All of the above errors may present in case of balanced debit and credit sides.

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The first step in the human resource planning process is forecasting. Forecasting is an attempt to determine the supply and dema
sesenic [268]

Answer:

Missing word <em>"Roll over each of the items below to read about the proportion of marketing employees at different times. Then drag each item into the correct position in the matrix."</em>

Note: The matrix in the question is attached as picture below

Year                                            2016

                   Sales mgr        Sales Rep         Sales asst.         Not in

                                                                                              Organisation

<em>2012</em>

Sales           Maintain         Management        Manager         Manager

manager    Management  Representative     Assistant        Turnover

                    Position             Demotion           Demotion

Sales Rep   Sales Rep      Maintain Rep       Rep assistant     Sales Rep

                    Promotion        Position               Demotion

Sales          Asst manager   Management    Maintain asst.     Sales Asst

assistant     Promotion          Promotion         position             Turnover

Not in        Manager New   Sales Rep          Sales Assistant

Organi-       Hire                   New Hire            New Hire

sation

7 0
3 years ago
Over the past year you earned a nominal rate of interest of 10% on your money. The inflation rate was 5% over the same period. T
Veronika [31]

Answer:

5%

Explanation:

Purchasing power refers to the amount of goods and services a unit of currency can buy.

Purchasing power can be determined by finding the real interest rate.

Real interest rate = Nominal interest rate - inflation rate

10% - 5% = 5%

I hope my answer helps you

5 0
3 years ago
The nation of Aquilonia has decided to end its policy of not trading with the rest of the world. When it ends its trade restrict
djverab [1.8K]

Answer:

higher in the steel market, lower in the rice market, and unchanged in the TV market

Explanation:

Producer surplus can be defined as the variance between the amount an individual or nation is willing to take for certain quantity of a product versus the amount they receive when the goods are sold at the market value. For the nation of Aquilonia to be importing rice that means producer surplus is higher because the variance is low, it will export rice because the producer variance is low, and hence it wants to give to other countries. But since it is neither exporting nor importing TV, that means that the producer surplus remained the same even after the change in policy.

7 0
3 years ago
What is a reverse mortgage in simple terms
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Answer:

Explanation:

The reverse mortgage is the mortgage which is give to the people who age is 62 years or below . The main aim of providing reverse mortgage loan is to take the loan in exchange of collateral security. The collateral security here means the home which is belongs to the borrower. The loan amount is depend upon the value of the home. The time period to repay the amount is of 6 months . If an borrower is unable to pay the amount, than bank or financial institution has the right to recover the loan amount by selling the house property of the borrower, and also it does not entertain with the monthly payments.

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