Answer:
b. an admission in court.
Explanation:
An admission in the law of evidence is a prior statement by an adverse party which can be admitted into evidence over a hearsay objection. In general, admissions are admissible in criminal and civil cases
Answer:
Option B, an overstatement of net income, is the right answer.
Explanation:
Option “B” is correct because when the prepaid expenses occur then it is recorded in the balance sheet on the asset side and the cash will be reduced by the same amount. However, if the prepaid expenses have not been adjusted then it will show the overstatement of net income because cash has been gone so actual cash will be lower than the recoded cash. Thus, option B is right.
0.05
To find the required reserve ratio, we need to know the total deposits and the required reserves amount.
Next, we divide the required reserve amount by the total deposits.
$10,000 / $200,000 = 0.05
The 0.05 is the required reserve ratio for First Bank of Commerce.
A Common is my choice for this question. There are plenty of commercials advertising this.
Matching principles refers to that the expenses incurred during a period be recorded in the same period in which the related revenues are earned.
If a Business fails to follw the principle It may not be able to create proper financial statements and that may provide an inaccurate current position of the business
Hope it helps
