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8090 [49]
2 years ago
9

Ms. Garden, the company bookkeeper, recorded the annual repair costs on the company's machinery as an increase to the machinery

account. As a result, which of the following statements correctly describes this situation?
a) Assets will be overstated
b) stockholders equity will be understated
c) expenses will be overstated
d) liabilities will be overstated
Business
1 answer:
iren [92.7K]2 years ago
8 0

Answer:

a) Assets will be overstated

Explanation:

Annual repairs costs are operating expenses that should be debited to the repair and maintenance account. The amount should increase the repair and maintenance account and, consequently, expenses for that period.

If the repair expenses are debited to the asset account, assets increase in value. Since the repair costs are wrongfully posted,  the assets will be overstated. On the other hand, expenses will be understated

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Answer: Progressive tax

Explanation:

A progressive tax is a form of tax whereby the tax rate rises as income of the individual or firm increases. Progressive tax progresses from low to high. Progressive tax can be applied to taxes of individuals and are imposed in order to reduce the incidence of tax of people who have a low ability to pay hence, the progressive tax can be used to shift the incidence to those that can afford to pay more.

Progressive tax is is usually used by most countries as it reduces the gap between the rich and the poor thereby curtailing economic inequality. The higher the income in progressive taxation, the higher the percentage paid by the person.

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3 years ago
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An intangible asset that is a distinct name, sign, or symbol that the federal government grants exclusive rights to use for a sp
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An intangible asset that is a distinct name, sign, or symbol that the federal government grants exclusive rights to use for a specified period of time trademarks

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6 0
1 year ago
The Herfindahl-Hirschman Index is a measure of market power that focuses on:
professor190 [17]

Answer:

C

Explanation:

Measures concentration by adding market shares squared

7 0
3 years ago
Despite the heavy reliance on e-mail, in certain situations calling may be the most efficient channel of communication, whether
Tju [1.3M]

Answer:

Option c and e                            

Explanation:

In simple words, Proper telephone etiquette becomes vital to business success as it is typically a consumer's initial point of contact so that reflects how your management  will handle them in those other communications. Ensure sure any consumer that calls your company gets a perfect, lasting experience.

Thus, one should talk to the client politely and be professional during the talks as it makes a positive impact of personality on the client.  

4 0
3 years ago
The welding department supplies parts to the final assembly line. Management decides to implement a kanban system and has collec
const2013 [10]

Answer:

25 containers

Explanation:

The computation of the number of kanban containers required is shown below:

= (Lead time demand + Safety stock) ÷ Container size

where,

Lead time demand is

= 2,000 units × 4 days

= 8,000 units

Container size = 400 units

Safety Stock is

= 1 day × 2,000 units

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So, the number of kanban containers required is

= (8,000 units + 2,000 units) ÷ (400 units)

= 25 containers

We simply applied the above formula

6 0
2 years ago
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