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Hitman42 [59]
3 years ago
14

If a company fails to make an adjusting entry for deferred​ expense, the assets will be overstated. Assume the deferred expense

is initially recorded as an asset.
True / False.
Business
1 answer:
ivann1987 [24]3 years ago
7 0

Answer: True .

Explanation:

In accrual accounting, revenue is entered when it is earned and expenses are entered when they are incurred.

Deferred revenue is money received by a company in advance of having earned it. In other words, deferred revenues are not yet revenues and therefore cannot yet be reported on the income statement.

As a result, the unearned amount must be deferred to the company's balance sheet where it will be reported as a liability.

When your company receives a customer deposit or prepayment on a sale, that payment occurs in advance of the actual sale and is therefore considered unearned revenue. Deferred revenue flows between the balance sheet and the income statement as revenue.

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An opportunity cost is​ ________. A. the benefit gained by choosing a certain course of action B. costs that have been incurred
Oliga [24]

Answer: Option (D)

Explanation:

Opportunity costs are known to present the benefits that an individual misses while they opt for an alternative over the another one. When an individual chooses an option from the alternatives, then the opportunity cost is referred to as the cost that has incurred by not appreciating the benefit which are confederated with the known alternative choice.

8 0
3 years ago
Suppose that there are 7 million workers in Mexico and that each of these workers can produce either 2 cars or 50 bushels of whe
Reil [10]

Answer:

The employees in Mexico can either produce 2 cars or 50 bushels of wheat.

This means that the opportunity cost of producing 50 bushels of wheat is 2 cars.

For 1 bushel of wheat therefore;

= 2/50

= 0.04 cars

Opportunity cost of producing a car in Mexico will be;

= 50/2

= 25 bushels of wheat.

The opportunity cost of producing a car in Mexico is 25 bushels of wheat, and the opportunity cost of producing a bushel of wheat in Mexico is 0.04 cars.

7 0
3 years ago
In the country of Azard, businesses use new smart cell phones to speed up many tasks such as sales recording, inventory checks,
Luden [163]

The component of growth recorded by the country of Azard is technology.

<h3>How is technology a component of growth?</h3>

Technology is one of the key drivers of growth in an economy. Technology increases the efficiency of the production of goods and services. The use of smart phones to speed up tasks is an example of technology contributing to growth.

To learn more about growth, please check: brainly.com/question/11679822

8 0
3 years ago
What is the name for a client-server model with one server and many clients, such as when an application is used to watch a live
Anettt [7]
The answer for this question is:  multicast distribution
In multicast<span> distribution, the company will provide the shortest path to the network so the client could receive the data packet more efficiently.
This model will prevent lagging/buffering that will somehow damage the experience of watching a live sports events.</span>
8 0
3 years ago
Under Section 401 of the Uniform Securities act, the term "agent" does not include an individual who represents an issuer in eff
Mariulka [41]

Answer:

B) issued by and representing an interest in or a debt of, or guaranteed by, any bank organized under the laws of the United States, or any bank, savings institution, or trust company organized and supervised under the laws of any state.

Explanation:

The Uniform Securities Act ( USA ) is a model statute or legal framework designed to guide each state of the United States of America in drafting and balancing both state and federal regulatory securities law. It is used in the United States of America to prosecute all fraud relating to buying and selling of securities.

Under Section 401 of the Uniform Securities act, the term "agent" does not include an individual who represents an issuer in effecting transactions in a security issued by and representing an interest in or a debt of, or guaranteed by, any bank organized under the laws of the United States, or any bank, savings institution, or trust company organized and supervised under the laws of any state.

<em>However, under Section 401 of the Uniform Securities act, the term "agent" means any individual other than a broker-dealer who represents a broker-dealer or issuer in effecting or attempting to effect purchases or sales of securities.</em>

4 0
3 years ago
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