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maria [59]
3 years ago
10

Which of the following statements is NOT correct about the financial statements?

Business
1 answer:
Novay_Z [31]3 years ago
8 0
Answer:

A balance sheet reports assets, liabilities, revenues, and expenses.


Explanation:

The balance sheet report assets and liabilities and shareholders fund where as revenues and expenses would be reported under income statement.
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At December 31, 2019, Sharon Lee Corporation reported current assets of $343,980 and current liabilities of $196,600. The follow
gtnhenbr [62]

Answer:

1.97 times

Explanation:

The formula to compute the current ratio is shown below:

Current ratio = Total Current assets ÷ total current liabilities

Current ratio before any adjustment is shown below:

So, current ratio = $343,980 ÷ 196,600 = 1.75 times

Current ratio after  adjustments are shown below:

Current assets = Before adjustment balance + goods purchased costing - physical count of inventory + freight-in charges

= $343,980 + $20,440 - 11,890 + 3,040

= $355,570

Current liabilities = Before adjustment balance - goods not received

                            = $196,600 - $15,950

                            = $180,650

So, the current ratio would be

= $355,570 ÷ $180,650

= 1.97 times

3 0
3 years ago
Danielle has to send a message to her manager. It is taking her extra time to draft the message because of the number of edits s
alex41 [277]

The type of communication that Danielle is carrying out is written communication. She is editing the written message to be sent to her manager.

<h3>What is Written Communication?</h3>

A 'Written Communication' refers to the process of sending messages, orders, or commands in writing thru letters, circulars, manuals, reports, telegrams, workplace memos, bulletins, and many more.

It is a proper approach to conversation and is much less flexible in nature.

Therefore, The type of communication that Danielle is carrying out is written communication. She is editing the written message to be sent to her manager.

learn more about written communication here:

brainly.com/question/7562621

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8 0
2 years ago
We refer to the Federal Reserve as ?<br> “The b... b..”
antoniya [11.8K]

Explanation:

the federal receive the common thing

3 0
3 years ago
Goal displacement, satisficing, and groupthink are:
Grace [21]

Goal displacement, satisficing, and groupthink are the<u> advantages of </u><u>group decision-making.</u>

Group decision-making simply means the process where several individuals act collectively in order to analyze a particular problem.

During group decision-making, several ideas are considered and the best approach or idea is chosen in order to achieve a particular goal.

Some of the advantages of the <em>group decision-making</em> include goal <em>displacement, satisficing</em>, and groupthink.

Read related link on:

brainly.com/question/25067788

6 0
2 years ago
The pursuit and accumulation of wealth is a core feature of the modern world. Yet throughout history man has expressed criticism
Scilla [17]

Answer:

As discussed below.

Explanation:

  • The pursuit and accumulation of wealth is no doubt a core feature of the modern world, as man does business for-profit motives and the formation of certain organizations and companies like the global, international, transnational and multinationals.  
  • Thus has also been criticized as each and every investment has various risks associated with it.  
  • The fact there exists some cautions and concerns about the accumulation of private property, privately owned lands and the space that they gather for the single individual as the case of various frauds and fugitives openly roaming in the market causing loss or dissolution of a financial asset of the government.
4 0
3 years ago
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