Answer:
"Extreme value retailers"
Explanation:
According to my research and based on the description provided in the question, I can say that the term being described is called "Extreme value retailers". This type of retailer has become extremely popular because they reduce costs and maintain low prices they offer a lot of variety and are located in more urban and rural areas.
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The answer is <span>Price ceiling, shortage
Price celing will set up a certain number where the maximum price of a certain product could be sold.
By setting price ceiling, the price will appear more acceptable among buyers which caused a massive demand and will eventually lead to shortage.
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Answer:
The omission of this entry understated accrued liabilites. given that the related inventory was sold in year 1, it aslo overstated net income and retained earnings by understating cost of goods sold, the same effects would occur if the insurance costs were chargeable to expense as a period cost
Explanation:
Rules specify that contingent liabilities should be recorded in the accounts when it is probable that the future event will occur and the amount of the liability can be reasonably estimated. This means that a loss would be recorded (debit) and a liability established (credit) in advance of the settlement.
