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harina [27]
3 years ago
15

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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When cash outflows temporarily exceed cash inflows, banks are most likely to experience:
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C. a negative duration on it's assets.
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When the body senses warmer temperatures, what happens to the blood vessels?
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Answer:

When we get too hot, sweat glands in the skin release more sweat. The sweat evaporates, transferring heat energy from the skin to the environment. 

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During a period, an RV company purchased three vehicles for $33,000, $46,000, and $24,000, and sold two of them for $125,000. Us
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Answer: $68,000

Explanation:

If the inventory that remains is the $46,000 then that means that the cars costing $33,000 and $24,000 have been sold.

With specific identification, the actual prices of the stock are used so the cost of goods sold is:

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7 0
3 years ago
Murkywater Company is considering a lockbox system. Its collection delay is currently 12 days.
Anna007 [38]

Answer:

$6,400,000

Explanation:

Reduction in mailing time = 1.5 day

Reduction in clearing time = 1.5 day

Reduction in firm processing time = 1.0 day

Total = 4.0 days

Daily interest on Treasury bills = 0.025%

Average number of daily payments to lockboxes = 4,000

Average size of payment = $400

The value of the proposal will be the average number of daily payments to lockboxes multiplied by the total of 4 days which is then multiplied by the average payment size. This will be:

= 4000 × $400 × 4

= $6,400,000

7 0
3 years ago
Other things being equal, if households decide to increase the amount of currency they hold per dollar of bank deposits, the mon
Dmitry [639]

Answer:

Option (A) is correct.

Explanation:

Money multiplier refers to the reciprocal of required reserve ratio.

The formula for determining money multiplier is as follows:

= 1 ÷ Reserve requirement ratio

If the households are desired to hold more currency in hand then as result the there will be leakage in the form of households holding cash with themselves.

Hence, this will lead to decrease the money multiplier because of higher reserve requirement ratio for the banks.

7 0
3 years ago
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