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baherus [9]
3 years ago
9

Sheffield Corp. earned $2120 for architecture services provided with the fee to be paid in the future. No entry was made at the

time the service was provided. If the fee has not been paid by the end of the accounting period and no adjusting entry is made, this would cause:
a. net income to be overstated.
b. revenues to be overstated.
c. liabilities to be understated.
d. revenues to be understated.
Business
1 answer:
Kay [80]3 years ago
6 0

Answer:  If the fee has not been paid by the end of the accounting period and no adjusting entry is made, this would cause: "d. revenues to be understated.".

Explanation: The income would be underestimated because the income of $2120 that corresponds to the service provided in the accounting period, must be recognized in the accounting period in which the economic events occur regardless of when the income of the funds occurs (accrual principle).

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MBO works by objectives moving through the organization; that is, top managers set general organizational objectives, which are
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Answer:

Cascade down.

Explanation:

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MBO operationalizes the concept of objectives by devising a process by which objectives cascade down through the organization.

The result is a hierarchy of objectives that links objectives at one level to those at the next level.

For individual employee, MBO provides specific personal performance objectives.

The cascade down of objectives is:

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4 0
3 years ago
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. How would Fl
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Answer:                                                                      

C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000

Explanation:

Assuming for now that credit customer will avail the cash discount, the following journal entry shall be made on November 10 by Flores mills in respect of credit sales made by it.

                                                                   Debit                 Credit

Accounts receivable                                  $7,840                          

Cash discount                                             $160

(8000*2%)

Sales                                                                                      $8,000                                                                        

Based on the above discussion, the answer shall C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000

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3 years ago
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<u>Answer: </u>Tell and Listen method of appraisal is used in the above mentioned scenario.

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In tell and listen method of appraisal the evaluation of the employees is communicated to them at first. The superior in hierarchy does the appraisal where the superior gives the feedback on the performance at first which includes the strengths and weakness.

Then the employee is allowed to respond to the evaluation. The employee can express his feelings after receiving the evaluation whether he is happy or not. The employees have right to vent their feelings even its frustration.

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Answer:

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C). Institutional Advertising. 
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