1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Two years ago, you purchased a $1,000 par value corporate bond with a coupon interest rate of 7.25 percent. Today, comparable bo
kirza4 [7]

Answer:

$1,035.71

Explanation:

first we must determine the annual interest = face value x coupon rate = $1,000 x 7.25% = $72.50

now to determine the approximate market value = annual interest / market interest rate = $72.50 / 7% = $1,035.71

since the market rate is lower than the coupon rate, you can sell your bond at a premium

7 0
3 years ago
SID Asset Management initiated an open-end and a closed-end mutual fund a few years ago. If you want to invest in the funds toda
zhenek [66]

Answer: D. must purchase shares of the open end fund in the primary market from the investment company and shares of the closed end fund in the secondary (stock) market.

Explanation:

Open ended funds have the power to issue unlimited shares and sells directly to investors which means that to purchase from them after they have launched, one would need to do so through the primary market from the investment company itself.

Closed-end funds however raise a fixed capital by issuing an Initial Public Offering and then the shares of the fund will then be listed in a stock exchange. To buy into such funds after a few years, you will have to go through the secondary market and buy it in the stock market.

8 0
2 years ago
PLEASE HELP AHHH! IM BAD AT BUSINESS ;-;
tankabanditka [31]

Answer:same

Explanation:

7 0
2 years ago
Read 2 more answers
___________is a conductor installed on the supply side of a service or separately derived system to ensure the required electric
g100num [7]

Answer:

Supply-side bonding jumper

Explanation:

A supply side bonding jumper is a transmitter on the stockpile side or inside an assistance or independently inferred framework to guarantee the electrical conductivity between metal parts required to be electrically associated.  

A bonding jumper on the stock side of an over current gadget  

The size of the stock side holding jumper depends on the unground stage conductors

7 0
3 years ago
A small business is currently using a paper-based system for billing, which is slow and error-prone. Which system upgrade will m
Pachacha [2.7K]

Answer: Source data automation

Explanation: Source data automation involves inputing data in a digital format from the point of origin. This method makes use of automated methods to collect data directly from the source right at the beginning. And in doing so, this process eliminates any duplicated effort, potential for errors and delays in any unnecessary handling.

4 0
3 years ago
Other questions:
  • In a CBA, if the benefits of a control outweigh the costs of implementing that control, then the control can be implemented to r
    8·1 answer
  • Read the scenario.
    9·2 answers
  • What techniques do you use to focus your time and resources?
    6·1 answer
  • Which of the following is not an example of risk factors for a multinational company?
    13·1 answer
  • Is Dropbox profitable as of June 2010? Are you optimistic about its chances? How does your estimation of Dropbox’s current profi
    12·2 answers
  • A married couple purchased their residence 5 years ago for $500,000. For 3 of the last 5 years, they rented out the property for
    8·1 answer
  • Beginning inventory, purchases, and sales data for dvd players are as follows: november 1 inventory 120 units at $39 10 sale 90
    9·2 answers
  • Why is a long term consequence of paying less than the minimum amount due on your bills
    6·1 answer
  • If your salary is $42,500 and your federal income taxes are 10% of your salary, how much money will you owe this year in federal
    5·2 answers
  • A firm that responds to a regulatory rule in a way that permits technical compliance while allowing the firm to violate the spir
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!