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
8090 [49]
3 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]3 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

You might be interested in
Future changes in automobile technology are likely to include
s2008m [1.1K]

Answer:    Flying cars??

Explanation: Im 99.9% sure it will happen.

8 0
3 years ago
____, or providing information supporting their policy positions to legislators, is a visible role played by interest groups. in
Eva8 [605]
Lobbying or providing information supporting their policy positions to legislators, is a visible role played by interest groups. 
Lobbying are efforts that are directed primarily at the national level; committees of Congress that consider legislation, and executive departments. Those involved depend on their personal relationship with members of Congress and the executive branch, which are based on keeping in regular contract. 
8 0
3 years ago
The combination of product lines offered by a manufacturer is called the firm's:
aliina [53]

Answer:

product mix

Explanation:

The combination of product lines offered by a manufacturer is called the firm's: product mix.

7 0
1 year ago
Item 1 Lawrin is a real-estate salesperson whose compensation is commission-only. She earns a 3% commission on the sale price of
Lera25 [3.4K]

Answer:

Gross pay= $13,357.8

Explanation:

Giving the following information:

Gross commission= 3%

Sales= $445,260

<u>The gross pay is the amount earned before tax and other deductions. We need to use the following formula:</u>

Gross pay= commission rate*sales

Gross pay= 0.03*445,260

Gross pay= $13,357.8

7 0
3 years ago
________ was the first secure payment intermediary allowing anyone to pay with credit cards and bank accounts without sharing hi
Sauron [17]

Papal was the first secure payment intermediary allowing anyone to pay with credit cards and bank accounts without sharing his or her financial information for online purchases.

A bank is a financial institution that has the authority to accept deposits and make loans. There are different types of banks such as retail banks, commercial banks, and investment banks.

The function of banks is to collect deposits from the public and lend them for the development of agriculture, industry, commerce, and commerce. Banks pay interest to depositors at lower interest rates and receive interest on loans at higher interest rates.

Learn more about bank here:brainly.com/question/14368059
#SPJ4

7 0
1 year ago
Other questions:
  • Assuming the cost of direct materials used is $1,500,000, compute the total manufacturing costs using the information below. Raw
    12·1 answer
  • Which of the following statements about social media is FALSE? Multiple Choice Social media can lead to hiring discrimination by
    7·1 answer
  • A type of partnership called a ___________ acts much like a corporation and is traded on stock exchanges, but it is taxed like a
    8·1 answer
  • Companies Heidee and Leaudy have the same total assets, sales, operating costs, and tax rates, and they pay the same interest ra
    11·1 answer
  • what's the difference between gross domestic product and gross national product. what is the significance of this distinction fo
    13·1 answer
  • Many employment contracts have mandatory arbitration clauses.<br><br><br> False<br><br> True
    8·1 answer
  • Identify each CSTO from its description
    13·1 answer
  • There are two reading assignments here. I encourage you to read Has Business Left Milton Friedman Behind and then skim/read the
    5·1 answer
  • Fisher Inc. wants to bring radical change to the current skills that exist in the organization, so they are going to employ ____
    10·1 answer
  • The Nash equilibrium in an oligopolistic market is generally ________ for society than the outcome under collusion because the p
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!