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alexgriva [62]
3 years ago
10

Ballou Corporation declared a cash dividend on December 13, 2018, payable on January 10, 2019. By mistake, the company failed to

make a journal entry in December 2018. The effect of this error on the financial statements as of December 31, 2018 were:_____.
a. retained earnings was overstated and liabilities were understated.
b. retained earnings was overstated and cash were understated.
c. retained earnings and liabilities were both understated.
d. retained earnings and liabilities were both overstated.
Business
1 answer:
sertanlavr [38]3 years ago
5 0

Answer:

a. retained earnings was overstated and liabilities were understated.

Explanation:

Since in the cash dividend is declared also the same is not recorded by the company

So this error would impact the two account i.e. retained earnings and the liabilities

In this, the retained earning is overstated and the liabilities were understated

Therefore the correct option is a.

And, the rest of the options are wrong

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____________ risk refers to the danger of changes in buying power during times of rising or falling prices.
natali 33 [55]

The risk refers to the danger of changes in buying power during times of rising or falling prices is known as inflation.

<h3>What is a risk?</h3>

Risk refers to the uncertainty or probability of an accidental event that will affect the decision-making of an individual or organization. In business the higher the risk, the higher the profit is achieved.

Inflation is defined as the ratio at which prices rise over time. Inflation is usually defined as a wide measure of price increases or increases in the cost of living in a place affecting its citizens.

Inflation diminishes the purchasing power of individuals which leads to high risk for investors who paid a fixed rate of interest on the investment. Most concerned about inflation-reducing returns are those individuals who invested in cash equivalents.

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3 0
2 years ago
Who is responsible for responding to workflow(s) for equipment dispatch requests through the business workplace require An appro
Roman55 [17]

Answer:

Commander

Explanation:

GCSS-Army is short for Global Combat Support System-Army. The GCSS is a section of the United States Army that is fielded under the 11th Armored Cavalry Regiment. There are the GCSS Wave 1 and GCSS Wave 2. These two groups have different roles.

The role of the Commander falls under the Wave 2 functions where he is required to perform the roles of maintenance, dispatch, unit supply, and property book functions. The Wave 1 function is mostly about allowing access to support supply activity functions. The commanders in any organization they work with can screen several transactions and give approval for equipment dispatch.

7 0
3 years ago
Why is knowledge of the key success factors in an industry important?
AURORKA [14]
<span>Distinguish how companies whose profits reflect growth in your industry are able to structure their business to cope with changes in customer needs. ... Assess your strategic objectives and your business activities to ensure that they align with achievement of your key success factors.</span>
3 0
3 years ago
Suppose a family has saved enough for a 10 day vacation (the only one they will be able to take for 10 years) and has a utility
Harlamova29_29 [7]

Answer:

2 Days

Explanation:

First, there is the need to rewrite the utility function for clarity

U=V^{1/2}

1. The Probability of Falling ill by someone in the family is given as 20%

2. If someone should fall ill, the total number of days that would be spoiled is calculated as:

Total number of vacation= 10 days x Probability to fall ill = 20%

= 10 x 0.2 = 2 days

This means if someone should fall ill based on the probability, then 2 out of the total 10 days can be ruined

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This means if the family gives up 2 days of probable illness, they can still enjoy their vacation.

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5 0
3 years ago
Which of the following asset accounts is increased when a receivable is collected? a.Accounts Payable b.Supplies c.Cash d.Accoun
Nikitich [7]

Answer:

(C) Cash

Explanation:

Receivables means deptors. These are obligations that has been honoured and value given, but you're yet to get cash. Receivables are seen as such. So the things you've given value to and you're yet to receive cash or payment for are receivables.

So when receivables are collected, then the asset account Cash is increased.

On the Delivery of goods or Services, the company debits Accounts Receivable and credits what is known as Sales Revenues or Service Revenues. When an account receivable is collected say 30 days later, the account receivables is reduced and the Cash or bank account is increased.

7 0
3 years ago
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