Answer:
The correction entries shall be as follows,
1. Service Revenue Dr. $ 920
Customer Account Cr. $ 920
2. Store Purchases Dr. $1,180
Accounts Payable Dr.$340
Supplies Account Cr. $ 1,520
Explanation:
1. The service revenue account was overstated and customer account understated. therefore by debiting service revenue and by crediting customer account, both have been restated at their actual position.
2. The accounts payable was overstated by $ 340 (1,180-1520).it is rectified by debiting with $ 340. Whereas the supplies account was wrongly debited therefore that impact of $1,520 reversed and actual store purchases debited with actual amount of $1,180
Answer:
C) Sales markets of the foreign entity are primarily in foreign countries.
Explanation:
The US dollar is the most commonly used currency in the world, and most of foreign trade is carried out using the US dollar. If the foreign entity sells most of its production overseas (exports) then they will use the US dollar as their functional currency since all their exports will be valued in US dollars.
Answer:
The correct answer is d) Administrative linkage
Explanation:
Business planning is one of the basic pillars on which the Business Plan is to be sustained: Commercial planning is a part of the strategic planning of the company, which aims to develop action programs to achieve the objectives of Company marketing
.
For the objectives to be met, the company must organize all available means and establish the corresponding strategies.
Answer:
it makes the price so low that the quantity demanded exceeds the quantity supplied on the legal market.
