The bookkeeper recorded a payment by check for the purchase of store supplies as a debit to Store Supplies and a credit to Cash for $1,340.56 . The check was recorded by the bank at its correct amount of $3,140.56 . Prior to the preparation of the bank reconciliation, the error would cause:
a. the trial balance to be out of balance.
b. the Accounts Payable account to be understated.
c. the Cash account to be understated.
d. the Store Supplies account to be overstated.
e. a possibility that the checking account might become overdrawn.
e
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A small business produces a single product and reports the following data
Sales price $8.50 per unit Variable cost $5.25 per unit Fixed cost $22,000 per month Volume 10,000 units per month The company believes that the volume will go up to 12,000 units if the company reduces its sales price to $7.50. How would this change affect operating income? A) It will increase by $5,500. B) It will increase by $10,500. C) It will decrease by $5,500. D) It will decrease by $10,500.
___________________ involves firms colluding on the price that their customers should be charged and is illegal.
(a) Dumping (b) Price fixing (c) Predatory dumping (d) Price escalation
An entity is someone who is interested in the database
Indicate whether the statement is true or false
Which piece of information below is included in a resource agreement?
A. Time estimates B. Contingencies C. Effort estimates D. Dependencies