Answer:
The answer is B. Gift and online auction I hope this helps
Explanation:
Answer:
True
Explanation:
The purpose of any business is to make profit, which is from the difference between revenues (price of product multiplied number of product sold) with the cost of goods sold (average total cost multiplied number of product sold).
In short, the profit = (price - average total cost) x number of product sold.
Normally the price must be above/ higher than cost, so that the firm can have profit. Sometime the price in the market go down, so the firm have have to adjust down its price also to maintain customer's purchases.
Once its price is down, but the firm's average total cost is still same as previous, the firm can not have profit as previously. The firm may bear this situation as long as its capital capacity allowed, but will not be too long.
Answer:
Explanation:
Statement of retained earning represent the changes in retained earning balance during the year and accumulated beginning balance of the period and Ending balance as well. It deals with all the adjustment in retained earning like net income transfer fro the year, dividend paid during the year etc.
Splish Corporation
Retained Earning Statement
for the year ended December 31, 2020
$
Retained Earning at January 1, 2020 707,000
Less: Cash Dividend paid during 2020 85,000
Add: Net Income for the year 2020 <u>1,428,500</u>
Retained Earning ath December 31 2020 <u>2,050,500</u>
If information about an entity's ability to continue as a going concern is not disclosed in the financial statements, an auditor of financial statements is likely to express an adverse opinion.
<h3>Define a qualified or adverse opinion.</h3>
A remark made in an auditor's report that is attached to a company's audited financial statements is known as a qualified opinion. According to an auditor's judgment, a company's financial information may have been incomplete or there may have been a significant problem with how generally accepted accounting standards (GAAP) were applied, but the problem was not widespread.
With one or more exceptions, the financials often reflect the company's success and position. The financial statements are inaccurate or do not adhere to widely accepted accounting rules, in our opinion (GAAP).
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Basically saying when a relationship between 2 people is boosted, there is a balance between them. The more equal the rewards, the more permanent the relationship.
