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harina [27]
2 years ago
15

For each error below, indicate:

Business
1 answer:
patriot [66]2 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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Which of the following statements is FALSE? Group of answer choices The right discount rate for a cash flow is the rate of retur
mart [117]

Answer:

To compensate for the risk that they will receive less than promised if the firm defaults, investors demand a lower interest rate than the rate on U.S. Treasuries.

Explanation:

Investors are risk averse, this means that they will always prefer those investments with lower risks. Since US treasuries are considered the safest investments,  they are used to calculate the risk free rate.

When investors invest in other securities (not US government) they will always demand a higher return because a private entity or even a state or local government can default on a their debt. That difference between the return yielded by a US security and the return from any other investment is called the risk premium.

8 0
3 years ago
Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $45 per unit.
ASHA 777 [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Its beginning inventory of chairs was 100 units at $45 per unit.

Purchases:

The first was a 174-unit purchase at $51 per unit

The second was a 212-unit purchase at $54 per unit.

During the period, it sold 294 chairs.

I will calculate the cost of goods sold and ending inventory under FIFO, LIFO, and weighted-average methods.

FIFO (first-in, first-out):

COGS= 100*45 + 174*51 + 20*54= $14,454

Ending inventory= 192*54= $10,368

LIFO (last-in, first-out):

COGS= 212*54 + 82*51= $15,630

Ending inventory= 92*51 + 100*45= $9,192

Weighted-average method:

Weighted-average cost= (45 + 51 + 54)/3= $50

COGS= 294*50= $14,700

Ending inventory= 192*50= $9,600

3 0
2 years ago
Which of the following are considered characteristics of money? I. Portable II. Uniform III. Divisible IV. Acceptable a. I and I
pogonyaev

All options are considered characteristics of money. So the right option is E

Explanation:

Money is characterised by durability portability, divisibility, uniformity, limited supply, and acceptability.

Two representations of alternative forms of money can be compared:

  • A cow In various points in history, cattle were used as currency.
  • A stack of US$ 20 bills equal to one cow's worth.

1) Durability: A cow is quite safe, but a long journey on the market threatens the cow being sick or dead and can seriously reduce its worth.

2) Portability: Although the cow is hard to move to the market, it can easily be put into my pocket.

3) Divisibility: A 20-dollar bill can be exchanged for other denominations, say a 10, a 5, four 1s, and 4 quarters. A cow, on the other hand, is not very divisible.

4) Uniformity: Cows come in various sizes and shapes, with a different value for each; cows are not very standardized.

5) Limited supply: Money must have a limited supply to sustain its worth. Although cows are quite limited in supply, if they are used as income, ranchers should make every effort to increase the supply of cows that decreases their value. The Federal Reserve controls the rule and thus the interest of 20-dollar notes— and the currency as a whole— so that the money keeps the value over time.

6) Acceptability: Although the worth of cows is intrinsic, some might not consider bovine animals as property. Men, however, are more than willing to accept bills worth 20 cents. In fact, your right to use US currencies to settle bills is protected by the US government.

8 0
3 years ago
The Millennials or Gen Ys, along with their younger counterparts, the iGeneration, are "digital natives" who grew up in technolo
choli [55]

Answer:

Generational Cohort

Explanation:

Generational Cohort is the theory, that suggest or states that the several or multiple generations were distinguished grounded on the particular time periods into which the people or an individual were born and the time periods they grew up.

In short, it is defined as the groups of people who were born during a particular time or at the same time. So, the digital natives who grew up in the environment which is technology enriched are known as the generational cohorts.

7 0
3 years ago
Jeremy is an effective leader who is capable of helping his subordinates complete their tasks. However, he is considered intimid
never [62]

Answer:

Fiedler's contingency theory of leadership effectiveness.

Explanation:

Fiedler's contingency theory of leadership effectiveness states that one's effectiveness as a leader is determined by how leadership can match the situation at hand.

There is no single best way to lead, but leadership style is determined by the situation.

According to Fiedler's contingency theory of leadership effectiveness, leadership style is fixed and leaders will need to be put into situations that best matches their style.

The two important factors to consider in thos theory are leadership style and situational favourableness.

6 0
2 years ago
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