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Nastasia [14]
3 years ago
11

Belle Co. received merchandise on consignment. As of March 31, Belle had recorded the transaction as a purchase and included the

goods in inventory. The effect of this on its financial statements for March 31 would be
Business
1 answer:
mihalych1998 [28]3 years ago
8 0

Answer:

net income was correct and current assets and current liabilities were overstated.

Explanation:

As the Belle company received the merchandise on the consignment also it is recorded as the purchase and get involved the goods in the inventory

So here the impact on the financial statement as on March 31 would be that the net income would be right but the current asset and the current liabilities would be overstated.

hence, the same is to be considered

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Which costs are correlated with the firm’s sales and include the costs of labor, raw materials, and sales commissions?
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Answer:

The correct answer is letter "B": direct.

Explanation:

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Up in Smoke Tobacco Shops' bond carries a 9 percent coupon, pays interest semiannually, and has 10 years to maturity. What is th
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