Answer:
a. an ownership interest in the corporation.
Explanation:
Stock refers to the stake of the owners of a corporation in the company.
It is sometimes referred to as shares or owner's equity and the owners of stock are called shareholders.
Stock therefore may be described as an ownership interest in the corporation represented as equity in the financial statement.
Option a is right.
Answer:
Cost of goods sold is $7,700
Gross Profit is $2,300
Explanation:
Cost of goods sold is Cost of goods available for sale less ending merchandise inventory. Ending merchandise understated by $300 means ending merchandise was accounted $300 less. So, $300 need to be added to ending merchandise. No ending merchandise is $2,300 (2,000 + 300)
Cost of goods sold will be 10,000 - 2,300 = $7,700
Gross profit is sales revenue less cost of goods sold which is computed as shown below:
Gross profit = 10,000 - 7,700
= $2,300
Answer:
The answer is D, the reporter is liable for a claim of libel
Explanation:
First of, we need to understand that libel in it self refers to a false statement or report published against an individual and of which the report has a very high tendency of tarnishing the individuals image. In order words, it can also be refereed to as the defamation of character where the victim in this case is refereed to as the character.
So, referring back to the question. As a reporter, it is assumed that proper diligence has been done in respect to investigation or investigative journalism as some like to call it before going before the public to declare such a defaming statement and in such a case where such sequentially, the statement comes to be a false statement, the reporter and in some cases the firm at large is liable for a claim of libel.
So as related to the question asked, the answer is D.
Answer:
the total trade receivable is $12,300
Explanation:
The computation of the total trade receivable is shown below:
= note due from customer + Due and unpaid from this month's sales + Due and unpaid from last month's sales
= $1,570 + $9,730 + $1,000
= $12,300
Hence, the total trade receivable is $12,300
The other items would not be considered as it is not a trade receivables
