Answer:
c. Net income will be overstated for the current year.
Explanation:
Depreciation is defined as the reduction in the value of an asset over the period of it's useful life.
The deductions are calculated and taken out of the asset value on the balance sheet.
The adjusting entry for depreciation at the end of year is a debit to Depreciation Expense and a credit to Accumulated depreciation.
If this entry is no passed it means that Depreciation Expense is not recognised for that year.
Net income will be overstated because generally expenses will be understated.
A net worth statement, financial goals, and a budget are all part of a financial plan.
Answer:
A. Secondary markets sell old issues of securities.
Explanation:
The primary market is one in which the securities of a new issuance of the company are traded directly between the company and the investors. Securities and shares traded in the primary market may have long maturities. If the holder wants to renegotiate this type of security, he or she may resort to the secondary market.
The secondary market is where investors trade and transfer among themselves the securities that were issued by companies in the primary market, ie, where old securities are traded. It is an environment created to provide liquidity to securities issued in the primary market.
Answer:
A. environmental damage due to increased production.
Explanation:
Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace.
Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.
Hence, one of the major advantages of globalization is that, it has ensured or made it possible such that economic and environmental conditions in different countries of the world are related and linked with the intention of generating revenue and profits while providing goods and services to meet the demands or requirements of various consumers across the world.
However, one major negative effect of globalization has been environmental damage or pollution due to increased production by various companies across the world.
Pollution can be defined as the physical degradation or contamination of the environment through an emission of harmful, poisonous and toxic chemical substances.
