A cash flow statement merely describes the net change in a company's cash flow in investment, operational, and financial activities at a given period in time. As such, a bad debt in the company's portfolio cannot be reflected correctly in the cash flow statement. A company can also result to selling products at a much lower prices than it purchased them. While this is reflected in the cash flow statement, it does not translate into overall profitability of the concerned company.
The correct answer is choice D.
The Stockholders’ Equity section of the balance sheet includes stock, paid-iin capital and retained earnings.
Answer:
1. Inventory account will be affected and assertions of accuracy and valuation will be violated.
2. Assets are overstated and assertion classification is violated.
3. Liability is understated and assertions of accuracy is violated.
4. No impact.
Explanation:
Assertions are certain claims of a business which a business must fulfill in order to make its financial statements reliable. A company has to record the expense when it is incurred in order to provide accuracy in valuation. In the given cases the assertions are violated which impact business accounts.
“The federal
government awards technology development contracts to U.S. businesses” is an example of the
broad economic goal of growth.
Equity<span> <span>or </span>economic equality<span> is the concept or idea of fairness in </span>economics, particularly in regard to taxation or welfare economics.</span>
The correct answer between all
the choices given is the third choice or letter C. I am hoping that this answer
has satisfied your query and it will be able to help you in your endeavor, and
if you would like, feel free to ask another question.
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Answer:
chart of accounts. a list of all account names used to record transactions of a company.
external transactions. transactions the firm conducts with a separate economic entity.
general ledger. all accounts used to record the company's transactions.
journal
posting
T-account
trial balance
accounts
