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valentina_108 [34]
3 years ago
14

If the Trial Balance columns are not equal and the difference can be evenly divided by 9, then the error most likely is a transp

osed number.True / False.
Business
1 answer:
saw5 [17]3 years ago
7 0

Answer:Yes

True

Explanation:

A transposition error is a data entry error that is caused by inadvertently switching two adjacent numbers. ... For example, the number 63 is entered as 36, which is a difference of 27. The number 27 is evenly divisible by 9. This can surely cause discrepancies in the trial balance

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In a recent annual report, Apple Computer reported the following in one of its disclosure notes: "Warranty Expense: The Company
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Answer:

2) Matching

Explanation:

The matching principle refers to that principle at which the revenues that are recognized in the particular year should be matched with the expenses that are incurred in that particular year

According to the given scenario, it talks about the matching principle at which the expenses are to be reported when the related revenue is recognized

Therefore, it follows the matching principle.

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3 years ago
Product safety has become a hot topic for businesses around the world. The purpose of product safety policies and legislation is
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Answer:

The purpose of product safety policies and legislation is to keep consumers safe, with the expectation that product quality is balanced against business profits. How does a company factor these competing expectations and still hold the consumer responsible for safe and effective use of the product? Product safety is a key component of any business.

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2 years ago
Dyckman Dealers has an investment in Thomas Corporation bonds that Dyckman accounts for as a trading security. Thomas Corporatio
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Answer: $20,000

Explanation:

Bonds are to be carried in the books at their fair value which is their market value. That value is $20,000 in this instance and so Dyckman Dealers will have to record the bonds at that $20,000 value.

Investment analysis are not a basis for recording bond prices. They are simply a basis for making investment decisions. For instance, because they believe that the bond is overvalued, they can benefit from this by short selling the bond and waiting for it to drop in price.

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2 years ago
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Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginni
Illusion [34]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

The estimated machine-hours for the upcoming year at 79,000 machine-hours.

The estimated variable manufacturing overhead was $7.38 per machine-hour

The estimated total fixed manufacturing overhead was $2,347,090.

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 2,347,090/79,000 + 7.38= $37.09 per machine-hour

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2 years ago
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