Answer:
Overstatement of Assets and liabilities.
Explanation:
Collection of cash results in journal entry of debiting cash with corresponding credit to accounts receivable thus reducing the accounts receivable.
Erroneous credit to accounts payable instead of accounts receivable results in overstatement of assets and liabilities.
Answer:
Returned goods
Explanation:
The returned goods process is the process in which the goods are returned due to several reasons i.e damaged of the product, demand lacking, the customer is not satisfied with the product as the company does not meet the customer demand to the level of their expectation
Therefore this process we called returned goods
And this is the answer but the same is not presented in the given options
Usually, people will buy 2 or 3 products that function almost the same; after that, they will be returned goods that don't match what they want.
Return of goods can be done in accordance with the terms and a predetermined period of time. In addition, there must be proof of purchase.
Sales returns are receipts of goods by the seller that are returned from the buyer. With a return policy, every item that has been purchased can be returned to the store that sold it as long as it is within the specified time and money equal to the price of the item will be returned.
Reasons for consumers returning goods are generally because they do not fit the size (for example clothing, mattresses, shoes, and others), do not meet expectations or there are similar items that are more attractive and more useful.
Learn more about example of a return transaction here :
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Answer: Option (a) is correct.
Explanation:
Correct option: Average Total Cost (ATC)
The firm's efficient level is the quantity of output that minimizes the average total cost. Firm's efficiency is attained at a point where price is equal to marginal cost. Hence, there is one more condition where marginal cost is equal to average total cost.
It is also a point where firm can maximize its profit and total quantity of output is also maximized at this point.
∴ At this point of maximization, firm's efficient level of quantity minimizes the average total cost.
Answer and explanation:
Financial institutions tend to generate more internal capital since they profit from money that they hold in their treasury and reinvest in other ventures. They differentiate from other companies such as manufacturers from the fact that most of them do not rely on the production of a good to earn profits. Banks rely on interests paid from borrowers after loans are lent.
External investment to financial institutions is usually <em>limited by government policies to avoid the "richer getting richer"</em>. Besides, banks tend to have a limited number of investors within their organizations who are in charge of deciding the path the financial institution will take to reach their established goals.
