Answer:
a. retained earnings was overstated and liabilities were understated.
Explanation:
Since in the cash dividend is declared also the same is not recorded by the company
So this error would impact the two account i.e. retained earnings and the liabilities
In this, the retained earning is overstated and the liabilities were understated
Therefore the correct option is a.
And, the rest of the options are wrong
Answer:
It has to be a free resource or good
Answer:
Price; marginal cost; cost minimizing; output; Cost of production or cost of inputs involved in production
Explanation:
In perfect competition a firm is in equilibrium when its marginal cost of production is equal to the price of its product. The firm will be able to maximize profit or minimize cost at this point.
The demand curve is a horizontal line, which means demand is perfectly elastic. A change in the price will cause the demand to become zero.
The cost mentioned here is the cost incurred to employ inputs in the process of production, which is an explicit cost.
Answer:
Primary data
Explanation:
Researchers obtain information about a particular subject in order to identify a certain pattern in the popular under study.
They obtain information in two forms: primary data and secondary data.
Primary data is obtained from the original source that is affected by an event. While secondary data is obtained from primary data that was initially collected.
In the give scenario to determine the reasons for the decreased sales of a line of fishing equipment at Wishin' I Were Fishin' stores. Researchers spoke to customers at the outdoor sporting goods store as well as at competitors' stores.
They went to the actual people that had an opinion on the subject matter, so the information is primary data