1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
GalinKa [24]
3 years ago
8

An overstatement of inventory account on the financial statements means that the __________ account on the financial statements

is understated. g
Business
1 answer:
Makovka662 [10]3 years ago
7 0

Answer: Cost of Gods Sold

Explanation:

The Cost of Goods sold in the income statement is calculated thus;

= Opening inventory + Purchases - Closing stock

Looking at the formula above, one can see that closing stock reduces the Cost of Goods sold. If inventory is therefore overstated, it would reduce Cost of Goods sold more than it should which would result in the Cost of Goods sold being understated.

You might be interested in
Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are p
PilotLPTM [1.2K]

Answer:

The number of units the company would have to manufacture during the year would be 780,000 units

Explanation:

To find out how much purchase is made, first we have to calculate the production level. The equation for production level is shown below:

Production level = Closing stock of finished goods + Sales - Opening stock of finished goods

= 76,000 + 730,000 - 26,000

= 780,000 units

Rest cost like opening and ending balance of raw material , required gram is irrelevant for computation part. Thus, it is not considered.

Hence, The number of units the company would have to manufacture during the year would be 780,000 units

8 0
4 years ago
3. When you rely on other people too much, you could lose control of your life plan. Name
ANEK [815]

Answer:

First, a person must not depend on anyone in his work. A person must develop plans for his own development and the ability to do all his work on his own, but sometimes a person may be forced to use the help of others and this is not a mistake. We all need each other, but without using dependence as a permanent habit

6 0
3 years ago
Đối nội và đối ngoại là bản chất của mọi nhà nước, đúng hay sai, giải thích
forsale [732]

Answer:

??? um sorry I only speak English so I don't know what your asking

8 0
3 years ago
According to the mandatory uniform policy provisions, what is the maximum amount of time after the premium due date during which
Klio2033 [76]
The grace period, during which a policy remain in force even though the premium has not been paid depends on the state. But generally, a grace period of 7 days is usually allowed for weekly premium payments, ten days for monthly payment and thirty one days for other policies.
6 0
3 years ago
Data collected by a company to solve a specific research problem is called _____________.
elena55 [62]

Answer:

Primary data

Explanation:

Primary data is information collected by a researcher from the field for the first time. The tools used to collect primary data are designed to address a particular problem. Consequently, the gathered information will be relevant to solving the problem at hand. Primary data is first-hand information and is collected using questionnaires, surveys, and interviews.

Secondary data is information that had been collected previously for other purposes but was found useful in another study.

8 0
3 years ago
Other questions:
  • The return investment (ROI) from education is typically the highest for:
    7·1 answer
  • Find the APR or stated rate in each of the following cases and show calculations:<?xml:namespace prefix = o ns = "urn:schemas
    7·1 answer
  • Why is that market economies can often allocate resources in a more efficient and robust way than centrally planned economies?
    10·1 answer
  • Pat, a manager, is assessing possible alternatives for the solution of a problem. Pat performs a cost-benefit analysis of severa
    8·1 answer
  • The principle of ____ states that an insured should not be compensated by an insurance company in an amount exceeding the econom
    15·1 answer
  • Under one life insurance marketing system, agents conduct sales interviews at the workplace with the approval of the management
    10·1 answer
  • Suppose you believe that Florio Company's stock price is going to decline from its current level of $82.50 sometime during the n
    10·1 answer
  • Think of a successful business and research the founding of that business. What successes could you learn about from that busine
    12·1 answer
  • The exchange rate between non-fixed currencies continuously fluctuates. The following chart shows the exchange rate of the pound
    7·2 answers
  • Please help me on this I’m stuck!!
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!