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3 years ago

For each error below, indicate:

Business

1 answer:

patriot [66]3 years ago

8 0

Answer:

1. Inventory account will be affected and assertions of accuracy and valuation will be violated.

2. Assets are overstated and assertion classification is violated.

3. Liability is understated and assertions of accuracy is violated.

4. No impact.

Explanation:

Assertions are certain claims of a business which a business must fulfill in order to make its financial statements reliable. A company has to record the expense when it is incurred in order to provide accuracy in valuation. In the given cases the assertions are violated which impact business accounts.

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Choose the correct category for the items from Sun Company's perspective.

olga nikolaevna [1]

Answer:

a. Land purchased by Sun Company from a local finance company

1) REAL ASSETS, the land exists as a physical asset regardless of the company's transaction.

b. Sun Company's administration building, which houses the finance department

1) REAL ASSETS, the building exists as a physical asset regardless of the company's transaction.

c. Sun Company's inventories of raw materials

1) REAL ASSETS, the inventories exists as a physical asset regardless of the company's transaction.

d. Accounts receivable: money owed to Sun Company by other companies who have purchased products on credits

2) FINANCIAL ASSETS, accounts receivable is a financial concept, not a physical asset

e. Sun Company's corporate checking accounts

2) FINANCIAL ASSETS, checks is a financial concept that represent money, not a physical asset

3 0

3 years ago

Harrington Corporation produces three products, A, B, and C. Pertinent information on these products is as follows: ProductSelli

Over [174]

Answer:

Labour hours constraint : 2a + 2b + 3c ≤ 150

Explanation:

Linear programming is a mathematical model that is used to solve a problem when a firm wants to maximize profit in the midst of multiple resource constraints.

The following steps should be followed:

Step 1: Define the variables

a= the units of product Anchor

b= the units of product Bearing

c= the units of product Casting

Step 2: Define the constraints:

The constraints represent the limitations which could be resource; in this case machine hours and direct labour hours. Since the constraint in focus is labour hours , so we only consider it.

Subject

Constraints: Labour hours : 2a + 2b + 3c ≤ 150

Non-negativity constraints a, b , c ≥ 0

Since the total available labour hours is 150 hours then the total consumption hours can either be equal to or less than 150, but can never be higher than 150.

The labour hours constraint is represented by 2a + 2b + 3c ≤ 150

8 0

3 years ago

Investing money in a retirement fund is part of a plan for achieving _____. A. Immediate goals b. Long term goals c. Short term

MrRissso [65]

C is the answer hope you l it helps you

6 0

3 years ago

Fatima is struggling in her job and is experiencing increased dissatisfaction. She related to you that her manager has been unfa

oee [108]

Answer:

Cognitive dissonance

Explanation:

Cognitive dissonance is a psychological notion when an individual experiences thoughts and emotions that are not consistent (no matter the environment). In this example, it was expected from Fatima to quit her job (since she hated the manager). In spite of that, she continued to work. That caused the cognitive dissonance in her behavior, as she changed her attitude.

6 0

4 years ago

When you first started your new business, you were so excited about the large volume of orders you had. One year later, you find

ioda

I would suggest it would most likely to be either A or B or both, however if I had to pick one I would go for A.

A - The question suggests you may have been putting more effort and enthusiasm into sales of the products for your new business "you were so excited about the large volume of orders you had" which may mean after your first year of business you may have started to slack of or get complacent with putting you business out there marketing wise, also when launching a product for the first time people are interested in the new and latest thing (such as a new business) after a while people start to forget unless you have marketing and advertising to remind them.

B - If the product you offer is unique and you were the first business to sale this / these items then after a year it is possible other competitors have started to copy you however this would completely depend on the products you sale.

C - Given you already had large orders in the first year people are happy to pay for the products you offer so this would exclude C.

D - If you have already had many orders in the first year people obviously want the products you sale even if you only sale 1 or 2 things so unlikely to be D.

8 0

3 years ago