Answer:
B net income is overstated, assets are overstated, and stockholders' equity is overstated
Explanation:
The movement in the balance of inventory at the start and end of a period is as a result of sales and purchases. While sales reduces the balance in inventory, purchases increases the balance. This may be expressed mathematically as
Opening balance + purchases - cost of goods sold = closing balance
Hence, where ending inventory balance is overstated, cost of goods sold is understated. When cost of goods sold is understated, gross and net incomes are overstated. Hence owner's equity is overstated and asset overstated.
Answer:
The correct answer is overextension.
Explanation:
In the context of language acquisition, it refers to the erroneous over-generalization in the use of a word; that is, to the error that consists in extending the application of words to entities or objects not included in the concept or category of reference, even if they share certain characteristics. For example, the word "dog" is used to correctly designate dogs; but it is also used in reference to any other animal with "four legs."
Answer:
There is a shortage of the product.
Explanation:
The market demand curve is downward sloping indicating a negative relationship with price. While the market supply curve is upward sloping indicating a positive relationship with price.
At the market equilibrium, both demand and supply are equal. At a price below the equilibrium level, the market demand is greater than supply. This causes a shortage in the economy.
An installment payment is equal payments every month, meaning it is the correct answer. (B)
