Answer:
Adjusted net income will be $78,010
Explanation:
According to the Accrual concept all the accrued expenses should be recognized and deducted from the unadjusted net income and all the earned revenues should be recognized and added to unadjusted net Income.
Salaries and wages owed but not yet paid of $820 is an expense which is accrued but not been paid it should be recorded and deducted from the unadjusted net income as earlier expenses were understated.
Interest earned but not received from investments of $780 is the revenue recognized but not been received until now. Accrual Concept requires that when revenue is realized it should be recognized into the accounting records. So it should be added to the net income.
Prepaid insurance premiums amounting to $580 have expired is actually an accrued expense which previously recorded as prepaid expense. It should be deducted from the net income as it is a expense which need to be recognized.
Unearned revenue in the amount of $780 has now been earned. Now it should be added to the net income because it is a revenue item that should be recognized as it is recorded as unearned revenue earlier.
Net income to be $77,850 based on the unadjusted trial balance.
Adjusted Net Income = $77,850 - $820 + $780 - 580 + 780 = $78,010
Answer: Operational communication
Explanation: Operational communication is the core mechanism that is responsible for the on-time communication. This is based on the carrying out operations and tasks . This helps in the management of security , improving the awareness , guiding the task etc.
Usually internal operational communication is used in the organization for communicating and performing the tasks. It helps in maintaining the communication flow within a certain organization among all the departments.
Answer: Deferred
Explanation:
The deffered is one of the type of annuity that helps in making the various types of insurance related contracts for the purpose of long time savings.
A deferred annuity is one of the type of contract where they pay some amount of their profit to the owner on the regular basis and it also used by various types of investors for profit purpose.
According to the question, the deffered annuity is making the various types of periodic payments that helps in scheduling the annuity after one year. Therefore, Deferred is the correct answer.
Answer: C.
Explanation:
Prices of substitutes in foreign markets is not important when setting export prices because it does not involve exporting products, money, etc.
