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3 years ago

When the receipts given by goldsmiths to depositors were used to make purchases, _________

Business

1 answer:

Sholpan [36]3 years ago

3 0

Answer:

The correct answer is option d.

Explanation:

Money can be defined as something which is accepted as a medium of exchange in the economic transactions involving the exchange of goods and services.

When the receipts given by the Goldsmiths were used to make purchases, they served the medium of exchange function of money.

So these receipts in effect became paper money.

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The adjusting entry to adjust supplies was omitted at the end of the year. This would affect the income statement by having expe

creativ13 [48]

Answer:

This would affect the income statement by having expenses

c. understated and therefore net income overstated revenues

Explanation:

Adjusting Entry:

It is such entry which is added at the end of the fiscal period in order to make the income statement accurate.

Overstated:

In Accounting, overstated amount means that amount is greater than the true amount.

Understated:

In Accounting, if an amount is less than the true amount then it is known as understated.

As in our case, the adjusting entry for supplies was not added so in this way expenses became understated means they become less as compared to actual expenses. Therefore, revenues overstated.

5 0

3 years ago

Read 2 more answers

Exercise 11-13A Calculate financing cash flows (LO11-5) Dristell Inc. had the following activities during the year (all transact

Scilla [17]

Answer:

The net cash flows from financing activities is -$45,000

Explanation:

The computation of the net cash flows from financing activities is shown below:

= Additional common stock issued - purchase of treasury stock - dividend paid - long term note payable issued

= $160,000 - $75,000 - $40,000 - $90,000

= -$45,000

The other items which are mentioned in the question have come under the investing activities

3 0

3 years ago

Consumer research, product development, communication, distribution, pricing, and service are all most accurately described as c

NeX [460]

Consumer research, product development, communication, distribution, pricing, and service are all most accurately described as core "marketing" activities.

Marketing is a social and administrative process by which people and gatherings acquired what they require and need through making, offering and trading results of significant worth with others.

Your core marketing strategy for your private business must include making a guarantee to tackle your optimal client's most prominent problem.It's tied in with marketing and advancements. That is, the work you put into bring issues to light about your image, increment interest for your item or administrations and lift deals.

6 0

3 years ago

An organization decides to improve its raw material handling process by buying a material handling robot. This is an example of

Leona [35]

Answer:

B. Automation

Explanation:

Option A is incorrect as a human resource cannot be a material handling robot.

Option C is wrong as statistical quality control cannot do the same task as a material handling robot can. Statistical quality control can ensure quality by minimizing risk.

Options D and E are incorrect, respectively, as flexible manufacturing cannot improve the raw materials, and fixed layouts cannot be the element of the raw material process.

Option B is correct as a material handling robot is a machine. Therefore, automation is necessary to improve the raw materials handling process.

8 0

3 years ago

NuKere, a nuclear plant, accidentally leaks hazardous waste onto a nearby property, despite having recently passed a rigorous se

ioda

Answer:

a.) Nukere should be held liable because of the dangerous nature of hazardous waste. Regardless of safety checks, the accident happened.

Explanation:

"Nuclear power plants" are known to be the most reliable source of electricity there is in the world. However, they pose some risks especially when it comes to the possibility of a nuclear accident happening.

When it comes to "nuclear third party liability," a strict liability of the nuclear operator means that the victim has no fault in any situation that might occur. This means that the operator is responsible or liable of the power plant's dangerous nature of hazardous wastes.

Whether or not they have recently passed safety checks, there is no need for them to prove anything on he is at fault. So, this makes Nukere liable for the situation.

This explains the answer.

4 0

3 years ago