Answer:
analogous
Explanation:
both green and yellow are a part of analogous
Answer:
market trends change constantly, funding fall through, business partners flake, and ideas may go wrong
Answer:
Balance sheet
Inventory - Understatement by $11,600
Owners equity - Understatement by $11,600
Income statement
Cost of goods sold - Overstatement by $11,600
Net income - Understatement by $11,600
Explanation:
The movement in an inventory account which is the difference between the opening and ending balances is a function of the purchases and the sales during the period.
This is captured in the equation below
Opening balance + purchases - cost of goods sold = ending balance
Hence an understatement of the ending balance would result in an overstatement of the cost of goods sold thus an understatement of the net income (and owner's equity).
The understatement in closing inventory balance is
= $378,500 - $366,900
= $11,600.
Answer:
D is very good but A and c are good to And b if so I would choose all four
Answer:
<u>Profit</u>
Explanation:
Revenue refers to the total receipts by a business for the sale of it's output.
Cost refers to the expenditure incurred for manufacturing products or creating a service.
The difference between the above two i.e revenue and costs, is termed as profit.
Profit can be of two types, economic profit and accounting profit. Accounting profit is calculated by deducting actual costs incurred from total receipts.
Economic profit on the other hand also considers implicit costs i.e opportunity costs, while calculating profits.
