Answer: The correct answer is A). Net income is overstated.
Explanation: Net income is equal to Income less expenses. When an accrued expense is not recognised it results in an understated expense which in turn leads to an overstated net income.
Wages payable is a liability. An omission of such a liability means that wages expenses is also omitted.
Answer:
The given statement is FALSE.
Explanation:
It will only be till sustainable growth rate that the firm will not require external financing. The debt /ratio demands resources to sustain the operation, which are not powered by the profit margin.
Economics because it has to deal with money, which is important for a career in business.
Answer:
The question is incomplete; Determine the consumer surplus from the original purchase and the additional surplus generated by the resale of the cannon.
Marcus' consumer surplus= $45-$35= $10
Starling's consumer surplus= $80-60= $20
Marcus' producer surplus = $60-35 = $25
Explanation:
