Answer:
The correct answer is (C) Reported as a current asset.
Explanation:
The current asset, also called a current or liquid asset, is the asset of a company that can become liquid (become money) in less than twelve months. For example, bank money, stocks, and financial investments.
We can also understand the current asset as all those resources that are necessary to carry out the day-to-day activities of the company. It is known as current because it is a type of asset that is in continuous movement, can be sold, used, converted into liquid money or delivered as payment without too much difficulty.
Answer:
Consider the following explanation
Explanation:
If these error are nit corrected, the income before taxes be overstated by $ 35,000
.
As, Overstatement of Ending Inventory will affect the gross profit (Increase) by $ 25,000 and then understatement of Depreciation will further increase Net Profit by $ 10,000
A mission is abroad declaration of an organization's purpose that identifies the organization's products and customers and distinguishes the organization from its competitors.
Sometimes this is confused with vision. The vision is where the organization wants to be 5 - 10 years from now.
Answer:
D. The ability of the firm to change its plant size.
Explanation:
The long run in economics is a period of time in which all inputs in the production process can be varied. It allows firms to have the ability to change its plant size that would be more or less fixed in the short run. The factors of production used in the long run are variable inputs. Variable inputs are inputs that can be change or altered in a production system. The firm in the long run has the abilities to respond to changes in the market and demand and can build bigger factory or larger plants.
Answer:
$0
Explanation:
According to the scenario, computation of the given data are as follow:-
Contributed amount = $20,000
Distribution amount = $15,000
As we know,
Taxable amount = Distribution amount - contribution amount
= $15,000 - $20,000
= - $5,000
The contribution amount is $20,000 more than the distribution amount $15,000. So distribution amount is not taxable.
She included $0 amount in her gross income this year.
