The omission related to unearned rental income could increase net income by $690 while eliminating accrued expenses, interest expense and interest payable, increased expenses and liabilities by $275. As a result, revenues are understated by $690 while expenses are understated by $275 so net income is understated by $140. Assets are not affected by this error, but liabilities are overstated by $140.
Unearned income is another name for the term “deferred income". It is used to define the process by which a company accepts payment from a customer before that customer receives a product or service. In many cases, companies rely on an upfront payment to complete the manufacture of the product before shipping it to the customer.
You can learn more about Unearned income here brainly.com/question/24280665
#SPJ4
Thomas jefferson disagreed with alexander hamilton’s economic plan primarily because he feared that it would.
Thomas Jefferson opposed Alexander Hamilton's economic strategy primarily because he was concerned that it would favor urban mercantile interests over agricultural ones.
The government was supposed to pay off both federal and state debts under Hamilton's proposal. He demanded that the government purchase all of the bonds issued by the federal and state governments prior to 1789. He then intended to issue new bonds to settle the outstanding debts. The government would then be in a position to repay the new bonds as the economy strengthened. Hamilton's plan was well-received by many people, including bankers and investors. People attacked it.
Learn more about Hamilton's Economic Plan https://brainly.com/question/28272759
#SPJ4
The _____ is the bureaucracy that handles the benefits you will receive in the event of a disability.
Social Security Administration is the bureaucracy that handles the benefits you will receive in the event of a disability. The Social Security Administration was laid out by the Social Security Demonstration of 1935.
What is Social Security Administration?
The United States Social Security Administration (SSA) is a free organization of the U.S. central government that directs Social Security, a social protection program.
To fit the bill for the greater part of these advantages, most specialists pay Social Security charges on their income; the petitioner's advantages depend on the breadwinner's commitments. In any case advantages like Supplemental Security Pay (SSI) are given in view of need.
SSA is settled in Woodlawn, Maryland, just toward the west of Baltimore, at what is known as Focal Office. Notwithstanding its 1,200 field workplaces, the organization incorporates 10 provincial workplaces.
Therefore Social Security Administration is correct.
Learn more about Administration here:
brainly.com/question/28034788
#SPJ4
Maralee has been approached by j. fox entertainment to perform an audit of her theatre company. maralee has never audited a theatre company before. maralee can:________
In the case above, Maralee can accept the engagement if she can be able to have the needed knowledge before the end of the given engagement.
What is an audit defined as?Auditing is known to be a term that connote a kind of on-site verification work that entails inspection as well as examination.
Note that it is often seen as the act or a from of quality system that helps to make sure that company or organization are in compliance to the needed requirements.
Since an audit is said to be "independent testing of financial information of any firm, one can say that In the case above, Maralee can accept the engagement if she can be able to have the needed knowledge before the end of the given engagement.
Learn more about audit from
https://brainly.com/question/7890421
#SPJ1
If revenues is credited, then the possible debits are ______
If revenues are credited, then the possible debits are cash, deferred revenue, and accounts receivable.
What Is Revenue?Revenue is the amount of money made from regular business activities and is calculated by dividing the average sales price by the number of units sold. The top-line (or gross income) figure is what is used to compute net income after expenses are subtracted.
On the income statement, sales are referred to as revenue. The money that a company makes from its operations is known as revenue. There are different ways to determine revenue depending on the accounting style utilized. In accrual accounting, sales made on credit will be counted as revenue for goods or services delivered to the customer. Revenue may be recognized by certain regulations even though payment has not yet been made
To know more about revenue visit:
https://brainly.com/question/21639689
#SPJ4
Financial information that is provided to decision makers before it loses its capacity to influence their decisions is?
Information must be made available to decision-makers in a timely manner in order to retain its influence. Financial information that is provided to decision makers before it loses its capacity to influence their decisions is Timeliness.
A piece of financial information is significant if it has the potential to influence the choices that its users make. If such knowledge has predictive value, it may have an impact. either confirmation value or both.
Predictive, feedback, and timely information should all be characteristics of relevant information. Decision-makers can forecast the future with the aid of pertinent knowledge since it has predictive value. Relevant data also provides "Feedback Value," or the ability to confirm or correct past assumptions, for decision-makers.
To learn more on Financial Information
https://brainly.com/question/15094247
#SPJ4
A manager who is fully informed, completely logical, and makes choices that are intended to maximize value is utilizing ________.
A manager who uses rational decision-making is one who is fully educated, entirely logical, and takes decisions that are meant to maximize value.
Rational Decision Making
The antithesis of intuitive decision-making is rational decision-making. It follows a precise process that makes use of logic and objective knowledge. It entails recognizing the issue that has to be resolved, collecting data, locating options and outcomes, analyzing them, taking into account all the connections, and making a decision.
According to the rational choice theory, people employ logical calculations to make rational decisions and arrive at results that are in line with their own personal goals. These outcomes are also connected to maximizing one's own interests. Given the restricted options available to them, using rational choice theory is supposed to produce results that give people the most benefit and satisfaction.
Learn more about Decision Making:
https://brainly.com/question/1249089
#SPJ4
amos' antiques, inc., is characterized by separation of management from ownership and by clearly defined lines of authority and responsibility. these characteristics are consistent with the principles of
These characteristics are consistent with the principles of: bureaucratic organizations.
The main criticism advanced against scientific management by the psychologists is that it's mechanical in approach. He has practically no say in determining the policies with relation to work.
Human resources management involves all management decisions and actions that affect the link between the organization and its employees – in other words, its human resources. HRM refers to the management of all decisions within a company that are associated with people.
Scientific management implies the appliance of science to the task management of an industrial concern. Scientific management may be a thoughtful, organized human approach to the task of management as contrasted with hit or miss, rule of thumb.
Over speeding - the scientific management lays standard output, time so that they should rush up and finish the ad time. These have adverse effects on the health of workers.
learn more about management: https://brainly.in/question/5026516
#SPJ4
______ is an economic system oriented to the collective, rather than the private, ownership of the means of production. group of answer choices
"Socialism" is an economic system oriented to the collective, rather than the private, ownership of the means of production.
What is Socialism?Socialism is a social and economic doctrine that advocates for public ownership or control of property & natural resources instead of private ownership or control.
Some key features regarding the Socialism are-
Individuals, according to the socialist viewpoint, do not live or work in isolation, but rather in collaboration with one another. Furthermore, everything that people create is a social product in some way, and anyone who contributes to the creation of a good is entitled to a share of it. As a result, society as a whole should own or control property to the benefit of all its representatives.This conviction pits socialism against capitalism, which is predicated on private ownership of the equipment of production and allows individuals to choose how products and services are distributed in a free market.To know more about the Socialism, here
https://brainly.com/question/14693002
#SPJ4
The seller has agreed to correct an inspection item before closing. the seller will pay the contractor before closing. how would this be recorded on the settlement statement?
The seller has agreed to correct an inspection item before closing. the seller will pay the contractor before closing. This would be recorded using POC.
A seller is an individual or organization that offers a product, service, or financial asset for purchase. Short selling involves borrowing unsecured securities in order to sell them, with the aim of buying them back at a lower price. The seller of the option is called the "writer" who collects the premium from the buyer.
A salesperson is a sales support person responsible for initiating sales conversations and facilitating the customer's sales experience. A salesperson helps the customer and then gives the best solution regarding the products being sold.
These three categories include professional salespeople, keen salespeople, and salespeople looking for a strategic partnership.
Learn more about seller here:https://brainly.com/question/28506317
#SPJ4
Which of the affirmative action strategies would involve an employer changing the company policy or the way an organization is decorated?
Identifying and removing employment practices which are working against minority applicants and employees is the affirmative action strategies would involve an employer changing the company policy or the way an organization is decorated.
Affirmative action includes a set of policies and practices within a government or organization which seeks to include particular groups based on their race, gender, sexuality, or nationality.
In no way does affirmative action require an employer to hire an unqualified minority over a qualified non minority, which is important to note. Thus, affirmative actions include outreach efforts, training programs, and other positive steps.
Hence, affirmative action gives a certain advantage to the minority groups in the recruitment process.
To learn more about affirmative action here:
https://brainly.com/question/15393594
#SPJ4
The difference between the concept of a company mission statement and the concept of a strategic vision is that:__________
The difference between the concept of a company's mission statement and the concept of a strategic vision is that the mission refers to the scope and purpose of a company, whereas the strategic vision refers to the direction of the company in the market, with a focus on the micro and macroenvironment.
What is strategic vision?It corresponds to the ability to manage organizational resources in favor of positioning and competitiveness in the market, which will be reverted to the organization in the form of profitability. The organizational strategy corresponds to the document through which action plans will be developed for a company to achieve its objectives and goals in the market.
Therefore, the mission statement corresponds to the purpose of an organization in the market, it is the statement of the reason for its existence, which must explain the company's identity in an objective way to its stakeholders, while the strategic vision is an internal document to be carried out of the goals and objectives determined for a period.
Find out more about organizational strategy here:
https://brainly.com/question/1417340
#SPJ1
A customer sells 1 abc jan 50 call and sells 1 abc jan 50 put. the customer has created a:_________
a. bull spread
b. short straddle
c. married put
d. short combination
A customer sells 1 abc jan 50 call and sells 1 abc jan 50 put. the customer has created a short straddle.
One short call and one short put make up a short straddle. The identical underlying stock, strike price, and expiration date apply to both options. If the underlying stock trades inside a constrained range between the break-even points, a short straddle is constructed for a net credit (or net receipt) and profits.
Strangles are profitable as long as the stock trades within the range bounded by the breakeven prices, similar to straddles. If the strike price leaves the breakeven area, it starts to lose money.
To learn more on Short Straddle
https://brainly.com/question/15704176
#SPJ4
Key numbers that characterize the current condition and trends in a specific real estate market are more commonly referred to as market:______.
You're looking for the word "parameter". Fill in the blank with "parameters" to complete the sentence. Parameter is the term commonly referred to as the key numbers that characterize the current condition and trends in a specific real estate market.
When predicting the parameters of the real estate market, the existence of real estate cycles poses a significant challenge. In real estate, the first step in the analysis is to locate the object in order to identify the scope of crucial parameters that the data presumes.
So once again, market parameters are the vital figures that describe the market's situations and developments at the moment.
Learn the parameter of the marketing mix that includes decisions on distribution channels: https://brainly.com/question/9350706
#SPJ4
Because negative messages may cause anxiety for employees, it is usually best to begin with negative messages first, and then end with neutral messages. group of answer choices
a. true
b. false
The statement is false.
The indirect strategy involves delivering terrible news first, followed by a supportive comment, and then the bad news itself. A remark meant to soften the blow of unpleasant news is known as a buffer statement. It can provide some encouraging news or a carefully worded warning. The message should include reasonable justifications for the bad news after a buffer statement. The bad news should then be relayed as diplomatically as possible. Try to finish by having a constructive conversation.
The second strategy is to use a direct method to convey unfavorable sentiments. When the communication's recipient is receptive to the news, this strategy performs well. It can also be applied if the person anticipates a poor outcome.
To learn more about Buffer here
https://brainly.com/question/15740615
#SPJ4
Identify the professional certifications offered in accounting and the organizations that offer them.
CMA, CPA, CIA are the professional certifications offered in accounting
What is accounting?
The process of recording a business's financial transactions is termed as accounting. To record these transactions to oversight organizations, regulators, and tax collection organizations is a step in the accounting process.
The financial statements that are used in accounting provide a succinct overview of all financial transactions that took place within a certain accounting period. They also summarize the operations, financial status, and cash flows of an organization.
One of the most important tasks in virtually every organization is accounting. In small businesses, it may be handled by a bookkeeper or accountant; in larger organizations,
it could be the responsibility of substantial financial departments with many staff members. Managerial decision-making is greatly aided by the reports produced by several streams of accounting, such as cost accounting and managerial accounting.
Learn more about accounting
https://brainly.com/question/14941603
#SPJ4
A ________ refers to a competitive strategy in which firms attempt to achieve lower business process costs.
A strategy of cost competition refers to a competitive strategy in which firms attempt to achieve lower business process costs. Option A
This is further explained below.
What is the strategy of cost competition?Generally, The fundamental component of the cost-cutting technique is the "bare bones" approach.
In order to give customers lower prices and, as a consequence, to increase the amount of money those customers save, the objective of cost leadership is to cut expenditures to the lowest possible level.
In conclusion, The term "cost competition" refers to a kind of competitive strategy in which businesses work on lowering the overall costs associated with their business processes. Alternative A
Read more about the strategy of cost competition
https://brainly.com/question/17218981
#SPJ1
complete question
A ________ refers to a competitive strategy in which firms attempt to achieve lower business process costs.
A) strategy of cost competition
B) scope strategy
C) customer intimacy strategy
D) focus/market niche strategy
Three virtues of the market system include _________________, __________________, and ________________.
The three virtues of the market system include efficiency, freedom & incentives.
What is a market system?This refers to the network of buyers, sellers and other actors that come together to trade in a given product or service. The participators in the market system include the direct market players such as producers, buyers, and consumers who drive economic activity in the market.
The type of market system includes Perfect Competition, Monopoly, Oligopoly, Monopolistic Competition and Monopsony. However, the 3 virtues of the market system include an efficiency, freedom, incentives.
Read more about market system
brainly.com/question/1659498
#SPJ1
What are the effects on the accounting equation from the adjusting entry for interest expense accrued, but not paid, at the end of the accounting period?
The adjusting entry for interest expense accrued but unpaid at the end of the accounting period will have the following impact on the accounting equation: Both total liabilities and total shareholder equity will decrease.
The amount that a company's owners have put into their enterprise is known as shareholders' equity. This covers the funds they have personally invested as well as the total amount of earnings that have been reinvested by the business since its beginning.
What is a good illustration of shareholder equity?
The difference between the entire assets and the total liabilities, as calculated by this method, is the shareholders' equity. For instance, the shareholders' equity of a corporation is $40,000 if its total assets are $80,000 and its total liabilities are $40,000.
To know more about shareholder equity
https://brainly.com/question/21543106
#SPJ4
Critical time is the amount of time that the task could be late without pushing back the completion date of the entire project. True or false?.
False (Slack time is the amount of time that a job might be delayed without postponing the project's overall completion deadline.)
What is slack time?The duration of a job that can be postponed without affecting other tasks or the project's completion deadline is known as slack time. Every time the flow is out of equilibrium, it occurs. A team is said to be in balance when everyone on the team finishes their work for the Sprint before someone else. Less commonly, a team member won't have enough work to keep them busy. A key team member being sick, an unexpected client request taking some team members away, a non-standard feature requiring longer research or testing than anticipated, or duties finishing sooner than anticipated (a fantastic problem to have!) are a few of the contributing causes.
To know more about slack time, visit;
https://brainly.com/question/16914389
#SPJ4
Internet access ______ the opportunity cost of producing education and news ______.
Internet access lowers the opportunity cost of producing education and news if it expands the production possibilities of education and news by more than it expands the production possibilities of other goods and services.
What is internet?The internet is a system of interconnected networks that allows for international communication and access to data resources via a huge number of private, public, business, academic, and governmental networks. Governmental organizations that create common protocols, such as the Internet Assigned Numbers Authority (or IANA), are in charge of it.
Although the terms "internet" and "World Wide Web" are frequently used interchangeably, they do not exactly mean the same thing. The internet refers to the technology and infrastructure of the global communication system, while the web is one of the services provided through the internet.
Learn more about the internet
https://brainly.com/question/2780939
#SPJ4
Select the term from the dropdowns provided which is closely related to the auditing term, phrase, or organizational name.
Auditing the text or Name of the company term. Any financial statement that a certified public accountant (CPA) has audited qualifies as an audited financial statement.
The method for choosing test items should be decided by the auditor in order to acquire evidence that can be used in conjunction with other pertinent evidence.
Although it resembles a matrix layout, the emphasis is on supervisor fluidity rather than employee fluidity, creating a decentralized functional framework. HR managers make sure that employees are meeting the organization's goals and choose the best individuals to fill open positions.
To learn more on organization framework
https://brainly.com/question/15048882
#SPJ4
Sales on account amounted to $80,000. sales returns were $2,000 and sales discounts were $1,000. cost of goods sold amounted to $45,000. based on this information the amount of gross margin was:_________
In this case the amount of the gross margin will be $32000.
The Formula to calculate Gross Margin is -
Gross Margin=Net Sales−COGS
where-Net sales = gross sales – returns – allowances – discounts
COGS=Cost of goods sold
As here Sales amount = $80,000
sales returns w = $2,000
sales discounts = $1,000
cost of goods sold amount = $45,000
allowances = 0
Therefore Net sales = gross sales – returns – allowances – discounts
Net sales =$80,000 -$2,000-$1,000
Net sales = $77000
Now to calculate Gross Margin
Gross Margin=Net Sales−COGS
Gross Margin = $77000-$45,000
Gross Margin =$32000
To learn more about gross margin here
https://brainly.com/question/22718027
#SPJ4
Which phase of the accounting process involves recognizing the effect of transactions on assets, liabilities, owner's equity, revenue, and expenses of a business?
Recognizing the effects of transactions on assets, liabilities, owner's equity, revenue, and expenses of a business is the processing function.
What is Accounting cycle ?Understanding the eight-step accounting cycle is crucial for all different types of bookkeepers. It breaks out the whole scope of a bookkeeper's responsibilities into eight major sections.
Technology-based tools and accounting software typically automate many of these activities.
On the other hand, for small business accountants working on the accounts with little technology help, knowledge of and use of the manual processes might be crucial.
A process called the accounting cycle is designed to assist business owners in keeping track of the financial accounting of their activities.
Typically, an accounting cycle has eight phases.
Business owners receive comprehensive financial performance reports at the end of the accounting cycle, allowing them to evaluate their company.
To know more about accounting cycle https://brainly.com/question/14854647
#SPJ4
Assume you own a bond that was issued by a blue-chip company. if the market rate of interest rises, what will happen to the value of your bond?
If the market rate of interest rises, what will happen to the value of your bond the bond values will decrease.
What is a bond?A bond is a sort of security used in finance under which the issuer owes the holder a debt and is required, depending on the terms, to repay the bond's principal at maturity as well as interest over a certain period of time.Finding a bond's fair market value is known as bond valuation. The present value of the stream of cash flows that a bond is anticipated to provide is its theoretical fair value, just like it is for any other security or capital instrument.An income bond is a bond that just guarantees to pay back the principle; no interest or coupon payments are guaranteed.Learn more about bond values here:
https://brainly.com/question/22504216
#SPJ4
John is responsible for security of his company's new e-commerce server. he wants to ensure that online transactions are secure. what technology should he use?
John is responsible for security of his company's new e-commerce server. he wants to ensure that online transactions are secure. He should use transport layer security.
A widely used security technology called Transport Layer Security, or TLS, enables privacy and data security for communications over the Internet. Encrypting communication between web applications and servers, such as when web browsers load a website, is one of the main applications of Transport Layer Security.
The Transport Layer Security protocol achieves its goals primarily through the use of encryption, authentication, and integrity.
Data transfer is protected from third parties by encryption.
Authentication is the process of confirming the identity of the persons sharing information.
Integrity: demonstrates that the data hasn't been altered or falsified.
To learn more about Transport Layer Security click here:
https://brainly.com/question/15021716
#SPJ4
Ellen elder and her brother, buster started elder company when they each invested $600 in the company. after the investments there will be:______.
In a case whereby Ellen elder and her brother, buster started elder company when they each invested $600 in the company. after the investments there will be three reporting entities.
What are investments?An investment can be described as the asset or item that is been acquired having in mind about the goal of generating income or appreciation.
Therefore, In a case whereby Ellen elder and her brother, buster started elder company when they each invested $600 in the company. after the investments there will be three reporting entities.
Find out more on investments at https://brainly.com/question/1305349
#SPJ1
If the assets of a business increased $101,000 during a period of time and its liabilities increased $73,000 during the same period, equity in the business must have:________
The equity in the business must have decreased amount I. e. Decreased by $28000 .
Given here, the asset are increased by $101000 and liabilities are $73,000.
So, the total equity present now is given by,
Total asset – Total liabilities.
=28, 000$
So, the total asset are now decreased by 28000$.
A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset. The balance sheet of a business lists assets. They are divided into four categories: tangible, financial, fixed, and current. They are acquired or produced in order to raise a company’s value.
Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied. Current liabilities are a business’s short-term debts that are due in a year or during a typical operating cycle.
To learn more about liabilities, refer this link
https://brainly.com/question/14921529
#SPJ4
Distinguish between perfect and imperfect market. explain why the existence of imperfect markets create a need for financial intermediareies?
In financial matters, explicitly broad harmony hypothesis, a perfect market, otherwise called an atomistic market and An imperfect market alludes to any financial market that doesn't satisfy the thorough guidelines of the speculative perfectly or absolutely cutthroat market.
What is the difference between perfect and imperfect market?
A Perfect market is described by perfect contest, market harmony, and a limitless number of purchasers and dealers.
In an imperfect market, individual purchasers and venders can impact costs and creation, there is no complete story of data about items and costs, and there are high hindrances to passage or exit in the market.
Imperfect markets don't fulfill the thorough guidelines of a speculative perfectly or simply cutthroat market. Imperfect markets are portrayed by having rivalry for market share, high boundaries to section and exit, various items and administrations, and few purchasers and merchants.
Therefore Perfect markets are hypothetical and can't exist in reality; all genuine markets are imperfect markets.
Learn more about Market here:
brainly.com/question/14418904
#SPJ4
Even though the garden of eden was a system for the production and distribution of goods and services, why was it not an economy?
Even though the garden of Eden was a system for the production and distribution of goods and services because everything was available in unlimited abundance.
Why is the economy important?
Economic issues promotes our daily lives. This includes issues like tax and inflation, interest rates and wealth, inequality and emerging markets, and energy and the environment.
How can we improve the economy?
Having more cash means companies have the resources to procure capital, developed technology, grow, and expand. All of these actions improve productivity, which increases the economy. Tax cuts and rebates, , allow consumers to stable the economy themselves by imbuing it with more money.
Learn more about economy:
brainly.com/question/17996535
#SPJ4
Other things equal, a firm will have to pay a higher coupon rate on its subordinated debentures than on its second mortgage bonds. true false
The statement "Other things equal, a firm will have to pay a higher coupon rate on its subordinated debentures than on its second mortgage bonds." is True
This is further explained below.
What is a Mortgage?Generally, MBS stands for mortgage-backed securities, which are bonds that are backed by mortgages and other types of real estate loans.
They are produced when a number of these loans, which often have qualities that are comparable to one another, are pooled together.
A company that operates for the purpose of making a profit and is often structured as a partnership in order to carry out the provision of professional services, such as legal or accounting work, is referred to as a firm.
The maximization of profits is the overarching goal of the business, according to the theory of the firm.
In conclusion, It is correct to say that, "all things being equal, a company will be required to pay a greater coupon rate on its subordinated debentures than on its second mortgage bonds."
Read more about mortgage bonds
https://brainly.com/question/8084409
#SPJ1