The safety need should now be met. Under Abraham Maslow’s
hierarchy of needs, this is next to physiological needs; this discusses about the
need of security and protection. These needs have to do with our natural yearning
for a foreseeable and arranged world that is somewhat within our limit. In terms
of workplace, an example of the safety need would be one should feel safe inside
the working environment that the individual should feel that nothing would
happen inside while he or she is working.
Answer:
Revenue is understated by $1520
Profit is understated by $1520
Accounts receivable is understated by $1520
Retained earnings is understated by $1520
Explanation:
The guideline on recognition of revenue is accrual basis of accounting, which is that revenue is recognized when it has been earned, in other words when the business has discharged its obligation to the other party by a way of delivering goods or services to clients.
Specifically,by not recording an adjusting for the $1520 revenue earned but not yet received,the revenue for the period would be understated by $1520 as well as profit for the year.
Also,asset,accounts receivable would also be understated by $1520 including retained earnings at the end of the year
If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is $840.
For two employees and for two days, the adjustment made was 4 times their per day income.
Total month end adjusting entry will be 2×2×$210 = $840
What is Accounting Period?
- A set period of time, such as a calendar year or fiscal year, is referred to as an accounting period in which income balance of whole month is calculated.
- It is used for performing, aggregating, and analyzing accounting operations.
- The accounting period is helpful for investing because prospective investors can assess a company's success by looking at its financial statements, which are based on a set accounting period.
<h3>What is
Month-End Adjusting Entry?</h3>
- Month-End Adjusting Entry is a record created at the conclusion of an accounting period that allows an income or expense to be recognized in the timeframe in which it is incurred.
- Accruals, deferrals, and estimations are the three forms of Month-End Adjusting Entry that are most frequently used.
<h3>What is Fiscal Year?</h3>
- Companies and governments utilize fiscal years, which are one-year periods, for financial reporting and planning.
- The most typical accounting period utilized to create financial statements is a fiscal year.
- A company's fiscal year is based on 3 determining parameters namely financial reports, external audits, and federal tax filings.
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I believe it’s collateral sorry if it’s not.
Answer: (C) Withholding information
Explanation:
The withholding information is one of the type of holding information in which we easily hold the various types of data or information deliberately in order to showing more power as compared to others.
According to the question, the agent of the real estate are withholding the data or information from the buyers and the various types of new regulations are addressing to the specific withholding information ethical problem in the market.
Therefore, Option (C) is correct.
