All categories

3 years ago

ABC, Inc. is a calendar-year corporation. Its financial statements for the years 2021 and 2020 contained errors as follows:

Business

1 answer:

Vesna [10]3 years ago

3 0

Answer: A) $15,000 overstated

Explanation:

Ending Inventory is subtracted from Cost of Goods sold so an overstated Ending Inventory would mean a smaller Cost of Goods sold and hence an overstated Income.

An Understated Depreciation amount would have the same effect because Depreciation is an expense so understating it would mean less expenses subtracted from Income leading to an overstated income.

As both of them will overstate income, the total overstatement would be;

= 9,000 + 6,000

= $15,000

You might be interested in

If the economy is experiencing an inflationary gap, the Fed should conduct ______ monetary policy to ______ aggregate demand.

Romashka [77]

The answer is Contractionary and Decrease

6 0

2 years ago

For this assignment, respond to each of the questions presented in that lecture. You do not need to submit a completed outcomes

katrin [286]

In the above case, a skill acquisition will be the aim of the program.

<h3>What organizational goal is driving this skill acquisition training?</h3>

The purpose of skill acquisition is so that student can be able to learn one or more trade so that they can earn a living after school

<h3> What will the benefit be?</h3>

The benefit of acquiring a skill is that one will be equipped with a lot of good resources and also the skill of financial management, one will have improved strategic planning and others.

What competencies will skill acquisition need?

It just need your presence, one's talents and expertise that has been obtained via education or or life experience.

<h3>What is the skill gap? </h3>

Critical thinking/problem solving
Paying Attention to detail.
Leadership.
Teamwork.

<h3> What evaluation will be used to measure the level of goal achievement? </h3>

Output based on work done, practical work and result.

Who will be trained - student.

The estimated class size- 50 - 100

How many classes will there be and how long will this training last - 20 class and it will last 2 month.

knowledge and skill prerequisites -Ability to read and understand and also just come and you will be taught.

The type of program that is being proposed - skill and handwork training.

What media, if any will be used in the training - visual, media and communication tools will be used·

What will happen if we do not deliver the training - giving of certificates and graduation.

What are the restrictions or limitations for delivering a program - financial restriction.

What other methods may be used to reach the goal - use of the mass media for dissemination of information concerning the program. Its advantage is that it will benefit all and the disadvantage is financial constrain.

Learn more about skill acquisition from

brainly.com/question/27961165

#SPJ1

5 0

1 year ago

All of the following actions are consistent with feelings of regret except:________.

hram777 [196]

Answer:

Option A, selling losers quickly, is the right answer.

Explanation:

According to some researchers and their investigation consistency factors has the potential to influence feelings of regret. Regret may emerge as a function of consistency and discrepancy between an individual's orientation and effort of an evaluative decision. Whenever the decision-maker approves an orientation of serving errors associated with the actions are generally more consistent and thus led to comparatively less feeling of regret.

4 0

3 years ago

Steve is in charge of accounting for the purchase of equipment at Cal Works, Inc. The company has a policy that all expenditures

Svetlanka [38]

Answer: Materiality

Explanation: In simple words, materiality refers to the accounting concept which states that only those transaction should be recorded in the financial statements which are important to the stakeholders.

In other words, the transactions should be recorded in such a way that it gives some value to the stakeholders.

Therefore, in the given case, steve reported two expenditures in the fiancial statement as the amount is significant, thus,must be holding the value to stakeholders.

Hence the correct option is D.

5 0

3 years ago

Data concerning Bedwell Enterprises Corporation's single product appear below:

melisa1 [442]

Answer:

unit sales = $3482.49

Explanation:

given data

Selling price per unit = $240.00

Variable expenses per unit = $99.50

Fixed expense per month = $454,290

monthly target profit = $35,000

solution

we get here contribution margin that is express as

contribution margin = Sales - Variable cost ..................1

put here value

contribution margin = $240 - $99.50

contribution margin = $140.50

so here Target Contribution margin will be

Target Contribution margin = Fixed cost + Target profits ...............2

put here value

Target Contribution margin = $454,290 + $35,000

Target Contribution margin = $489290

so here unit sales will be as

unit sales = $\frac{489290}{140.5}$

unit sales = $3482.49

8 0

3 years ago