Answer:
Depreciation expense is added back to net income when preparing the cash flow from operating activities section because depreciation represents a non cash reduction to net income. Depreciation is a non cash reduction because it notes down the the reduction in the value of an asset due to use as an expense and because the company isn't making any cash transactions due to depreciation of assets therefore it is a non cash expense and this is why it is added back to net income when preparing cash flow from operating activities.
Explanation:
Answer:
e. External opportunity
Explanation:
An external opportunity is an extension of the market due to some external development outside the industry. In this case, the cruise industry has benefited in a major way due to external developments.
Answer:
Net income is overstated by $28,000.
Explanation:
As the company forget to make the adjustment entry it didn't recognize any expense for the expired insurance.
From September to December 31th 4 month of insurance has expired:
42,000 x 4 month/6 months = 28,000 insurance expense
as the expense weren't post the income statement is overstated along with the assets of the company as it doesn't have a prepaid amount for 42,000 but for 14,000
<span>rapidly; physical conditions; economic development; material possessions. This discusses the differences between folk customs and popular customs. The dissemination of information and knowledge about culture can be spread very quickly depending on the above factors, which include total population, proximity, environment, and abilities.</span>
Answer:
negligence
Explanation:
In order to be successful in a product liability action based on negligence the following elements must be proved: Duty
,Breach of Duty
,Cause in Fact
,Proximate Cause and Damages(plaintiff)