The effect on the financial reporting of the company is that the liabilities on the balance sheet would be understated. This is because at the end of the year, a possible event was calculated. The management felt from the calculation of that event that it is possible that the event could become an actual liability and that the amount could be estimated explainably. So it would become understated if these calculations of probable events cannot be written down in the balance sheet or in the notes of the final statements. It is like a forecasting of possible events that may happen in the future to prevent losses in the company.
Answer:
The correct option is A
Explanation:
Arnold has the potential and capacity which means he has the power but instead he chooses to stick to important paperwork which makes him fail in influencing his subordinates.
Answer:
Control Stage
Explanation:
According to my research on strategic marketing planning process, I can say that based on the information provided within the question this would most likely take place during the Control Stage. This can be said because this stage focuses on controlling all aspects of the business in order to make sure that everyone is up to date and everything is working accordingly in order to meet the business goals.
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Answer: These could be categorized as follows :-
Explanation:
a. Accounts receivable = Asset in balance sheet
b. Sales = Revenue in income statement
c. Equipment = Asset in balance sheet
d. Supplies expense = Expense in income statement
e. Cash = Asset in balance sheet
f. Accounts payable = Liability in balance sheet
g. Retained Earnings = Equity in balance sheet
h. Revenue = Revenue in income statement
i. Contributed Capital = Equity in balance sheet
j. .Cost of Goods Sold = Expense in income statement
k. Notes Payable = Liability in balance sheet
l. Selling and Administrative Expenses = Expense in income statement
