Answer:
d. net income for the year will be overstated.
Explanation:
The prepaid rent account is used to record the amount paid in advance for rent. Once the amount is paid, the entries required are
Debit Prepaid rent
Credit Cash account
On subsequent use of the rent, the required entries are
Debit Rent expense
Credit Prepaid rent
As such where at the end of the fiscal year, the usual adjusting entry to update Prepaid Rent for the portion of the benefit that was used up / expired was accidentally omitted, net income for the year will be overstated as the rent expense that would have been posted to reduce it would have been omitted.
Answer:
The ABC Corporation is planning to implement an employee share purchase plan on the basis of the codification.
The codification that outlines that employees meeting the limited employment qualifications may participate on equitable basis is '718-50-25-1'.
The codification '718-50-25' is named as 'Recognition' and the given point is mentioned in point 'b' of '718-50-25-1'.
The UCC rule says that a merchant who offers to buy, sell, or lease goods and gives a written and signed assurance on a separate form that the offer will be held open cannot revoke the offer for the time stated or if no time is stated, for a reasonable time is referred to as the <u>Firm Offer Rule.</u>
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<h3><u>A Firm Offer: What Is It?</u></h3>
When goods are sold, a firm offer is deemed to have been made when a guarantee to keep the offer open has been signed and the selling merchant meets the requirements for a merchant under the Uniform Commercial Code. Customers frequently ask for a definite offer so they can be certain of their cost over a predetermined period of time. A lot of retailers also request definite offers from their suppliers. Firm offers have a number of benefits, but there is a chance that things could change and the original offer would no longer be appropriate.
For instance, you might not be able to maintain the price you initially proposed due to rising raw material costs or running out of stock.
Only the time period specified in the offer is valid for firm offers. If the offer does not include a deadline, it will be valid for a maximum of three months.
Learn more about the firm offer rule with the help of the given link:
brainly.com/question/13640672?referrer=searchResults
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Answer: A. Brand alignment
Explanation:
Brand alignment simply means when a company ensures that the brand's promise is being uphold through its marketing assets and the way the company interacts with the customers.
Brand alignment is a way of making sure that the brand's promise are delivered and met. Since the slogan of Nature's Source Products is "Loving the Planet." and the company employs people who are committed to sustainability and enjoyment of nature, it implies that the company is using brand alignment.
Answer:
$1100
Explanation:
Compound Interest is a multiplying effect interest , in which interest for each successive period is calculated on (Principal + Interest) of each preceeding period .
Formula : A = P(1+r/n) power 'nt .
r = Interest rate , t = time , n = compound in time 't' , P = Principal
A = 1000 (1+10/1) power'(1X1) = 1000 X 11 power 1' = 1000 X 11 = 1100
