Nobells Corp. has acquired land and paid $500 as brokerage to acquire the land. However, the company's accountant has recorded the $500 as a revenue expenditure. What is the effect of this error?
A) Net income is understated by $500.
B) Liabilities are overstated by $500.
C) Revenue is overstated by $500.
D) Assets are overstated by $500.
A
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Prior to recording adjusting entries, the Office Supplies account had a $359 debit balance. A physical count of the supplies showed $105 of unused supplies available. The required adjusting entry is:
A. Debit Office Supplies $105 and credit Supplies Expense $254. B. Debit Office Supplies Expense $254 and credit Office Supplies $254. C. Debit Office Supplies $105 and credit Office Supplies Expense $105. D. Debit Office Supplies $254 and credit Office Supplies Expense $254. E. Debit Office Supplies Expense $105 and credit Office Supplies $105.
Project funding is an investing decision
Indicate whether the statement is true or false
Which theoretical framework identifies the ideal leadership style as incorporating a high concern for both production and people?
a. path-goal model b. leadership Grid c. two-dimensional leadership styles d. normative leadership model
The total cost of ownership (TCO) is defined as the sum of purchase price minus all expenses incurred during the productive lifetime of a product or service minus its salvage or resale price
Indicate whether the statement is true or false