Ending inventory for the current accounting period is overstated by $2,700. What effect will this error have on Cost of Goods Sold and Net Income for the current accounting period?
A)
Cost of Goods Sold Net Income
Overstated Overstated
B)
Cost of Goods Sold Net Income
Understated Overstated
C)
Cost of Goods Sold Net Income
Overstated Understated
D)
Cost of Goods Sold Net Income
Understated Understated
B
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Aboard Company began the current year with the following: Accounts receivable $ 10,000 Allowance for doubtful accounts (800) Net account receivable 9,200 During the current year, the following events occurred: Accounts written off $ 1,200 Sales on account 30,000 Bad debt expense recognized 2,000 At the end of the current year, Aboard showed a balance in gross accounts receivable (before the
allowance for doubtful accounts) of $16,800. What amount would be shown as an operating cash inflow in the statement of cash flows under the indirect method? a. $21,000 b. $22,000 c. $30,000 d. $28,200
The federal legislation that provides financial support for training newly hired employees, especially those who have been unemployed for a long time or who are been receiving welfare is the
A. Workforce Training Act. B. Civil Rights Act. C. Workforce Investment Partnership Act. D. Vocational Rehabilitation Act.
Level scheduling means producing at a constant rate, regardless of customer demands
Indicate whether the statement is true or false
Affective outcomes would be considered a Level 1 outcome in Kirkpatrick's model of training evaluation.
Answer the following statement true (T) or false (F)