Answer:
C) No/Yes
Explanation:
An income statement (profit and loss account) is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period. It indicates how the revenues are transformed into the net income or net profit
Absorption cost is a method of calculating the cost of a product or enterprise by taking into account indirect expenses (overheads) as well as direct costs.
How do you calculate total period cost under absorption costing?
Income statement shows Sales – Cost of Goods sold = Gross Margin (or Gross Profit) – Operating Expenses = Net Income and is based on the number of units SOLD.
D. It keeps prices fair for consumers
Answer:
The correct option is "<em>d." Characteristics that would make a misstatement material include: The misstatement makes it probable that the judgment of a reasonable person relying on the information would have been changed or influenced by the omission or misstatement.</em>
Explanation:
<em>A misstatement </em>is a false or incorrect statement. So a material misstatement is a significant statement that is false or incorrect. In the context of a financial audit, a material misstatement is untrue information in a financial statement that could affect the financial decisions of one who relies on the statement.
Answer and Explanation:
D. n = AP Statistics Semester 2
