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Ilya [14]
2 years ago
8

An error in the physical count of goods on hand at the end of a period resulted in a $10,000 overstatement of the ending invento

ry. The effect of this error in the current period is (use the COGS equation for the Periodic System):__________
A. Cost of Goods Sold: Understated, and Net Income: Understated
B. Cost of Goods Sold: Overstated, and Net Income: Overstated
C. Cost of Goods Sold: Understated, and Net Income: Overstated
D. Cost of Goods Sold: Overstated, and Net Income: Understated
Business
1 answer:
Over [174]2 years ago
6 0

Answer:

C. Cost of Goods Sold: Understated, and Net Income: Overstated

Explanation:

The cost of goods can be defined as the amount that a business has to pay in other for them to get an inventory. the net income can be defined as the amount of money that is left from COGS and other expenditures that does not include taxes and payments of interest. Overstating the inventory causes the total amount of earnings to be overstated for that accounting period. while the cost of good sold would be understated

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Assume the Hiking Shoes division of the All About Shoes Corporation had the following results last year (in thousands). Manageme
NNADVOKAT [17]

Answer:

A) $1,050,000

Explanation:

Residual income

= Net operating income - (Total assets*Target rate of return)

= 1,250,000 - (20%*1,000,000)

= $1,050,000

Therefore, The division's Residual Income is $1,050,000.

5 0
3 years ago
Blank addresses change depending on the cells you
Scorpion4ik [409]

Answer:

absolute addresses change depending on the cells you copy them to.

relative addresses do not change if you copy them to a different cell.

Explanation:

A cell reference is a single cell or range of cells on a Excel worksheet. When calculations are done, these cells can be referred to. The cells are referred to using their row value and column value.

Relative references (or addresses) changes based on the position of rows and columns when a formula is copied to a different cell.

Absolute references (or addresses) do not change (remain constant) even if the formula is copied to a different cell.

5 0
3 years ago
A company has an unbiased forecast for its demand. what does that mean?
andrezito [222]
Average of all forecast errors is 0 a company wants to use a regression analysis to forecasts the demand for the next quarter.
8 0
2 years ago
Adam Sears is an assembly line employee with Swenson Motors. Though Adam is popular among his supervisors and colleagues, Adam e
Valentin [98]

Answer:

The answer is: D) Adam's job has low task identity.

Explanation:

The task identity of a job can be defined as the extent at which that job involves completing a piece of work.

In Adam´s case, to complete a piece of work refers to assembling a whole car. Adam´s job is very specific, fixing nuts and bolts. It´s the perfect example of specialization of labor. He may be very good at doing that, but doesn´t feel good about it.  

4 0
4 years ago
When the price of football tickets increases, the substitution effect decreases the number of tickets bought from?
adell [148]
It will bought from higher quantity to lower quantity
When the price of the tickets increases, a number of people who can buy it will decrease which resulted in lower quantity of the total sales.
The only consumer segments that wouldnt be affected by the price changes probably only the loyal fans that basically will follow their teams wherever they go.

8 0
4 years ago
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