1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yawa3891 [41]
3 years ago
13

A company uses the periodic inventory method. If beginning inventory is understated by $10,000 because the prior’s year’s ending

inventory was understated by $10,000. The company’s ending inventory for this period is correct. The effect of this error in the current period is that (i) cost of goods sold is ___________ and (ii) net income is __________.a. (i) Overstated and (ii) Overstatedb. (i) Understated and (ii) Understatedc. (i) Overstated and (ii) Understatedd. None of thesee. (i) Understated and (ii) Overstated
Business
1 answer:
Ratling [72]3 years ago
3 0

Answer: Understated and Overstated

Explanation:

Cost of good sold is the addition of Opening stock to the purchases and subtracting closing stock, the omission of $10,000 will reduce it. Invariably a reduction in cost of sales will overstate income.

You might be interested in
Gina is working as a marketing trainee for a streaming video company. Her boss called a meeting for next week with one thing on
SCORPION-xisa [38]

Answer:

"C"

Explanation:

A customer - driven environment is an organisation where customer needs are identified and all efforts are in place to ensure that these needs are met to the maximum satisfaction of the customer.

Quality and pricing are key components of this system as a customer will be attracted if he is sure of the quality of a need at a reasonable price. It does not mean it should be the cheapest and lack quality.

It has been proven to be a good way of gaining competitive edge over rivals in business.

8 0
3 years ago
Explain. Brainliest.
Rus_ich [418]
Alright, well look like this:

Public goods are goods that are open to anyone. They can’t turn down customers, and they can’t turn down even people who don’t pay.

Excludable goods means the people CAN turn away those who don’t pay. So, this is wrong.

Goods for a profit means that no matter what, they make money. Meaning those who can’t pay can still be turned away.

Privately owned goods can be turned away to and from anyone. This is also wrong.

Nonexcludable goods means that ANYONE can use this good or service, they aren’t for profit, they are non-rivalrous, etc. This is your answer.

<span>~Hope this helps!</span>

7 0
3 years ago
A competitive market economy with low barriers to entry affords an entrepreneur with:.
nalin [4]

A competitive market economy with low barriers to entry affords an entrepreneur with

the opportunity to bring new and different products and services to the market.

5 0
2 years ago
Cause and effect what is likely to happen when consumers hear reports that make them worry about a products safety ? Explain the
saul85 [17]
The demand of that product decreases only the few who can afford will purchase and the cause of higer prices on aproduct may b due to increement in taxes on acommodity by the gov't
4 0
3 years ago
Read 2 more answers
Marla is a buyer at a major corporation. Although she is authorized to make purchasing decisions on her own, she often seeks the
stiv31 [10]

Answer:

Consultative

Explanation:

I did this question

4 0
2 years ago
Other questions:
  • Marketers estimate technical success when they decide whether a new product is technologically feasible and​ a(n) _____ success
    5·2 answers
  • Most organizations spend more time and money on the systems ________ phase than on any of the other phases. Group of answer choi
    14·1 answer
  • According to​ Zane, it was difficult for him to empower his employees and not​ micromanage; however, he realized that being resp
    6·1 answer
  • Making a good purchasing decision requires
    10·1 answer
  • Which of the following statements about pricing objectives is true? unit volume is not a type of pricing objective because it is
    6·1 answer
  • Which of the following is not an economic goal that influences how societies answer the three key economic questions?
    11·2 answers
  • Which of the following is not considered to be a liability? Answers: a. Wages Payable b. Unearned Revenues c. Accounts Payable d
    14·1 answer
  • Describe how an unrelated tenant in common or joint tenant should protect him- or herself from potential liability (for negligen
    12·1 answer
  • Merger Co. has 10 employees, each of whom earns $1,700 per month and has been employed since January 1. FICA Social Security tax
    9·1 answer
  • If a firm can raise market price by reducing its output, then:
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!