Ronn Industries Ronn Industries reported net income of $95,000 for 2012. Early in 2013, Ronn discovered that its 2012 ending inventory was overstated by $5,000. Refer to the information provided for Ronn Industries. Determine the financial statement effects of the inventory error for 2013
A) Expenses will be understated and net income will be overstated.
B) Expenses will be overstated and net income will be understated.
C) Both expenses and net income will be overstated.
D) Both expenses and net income will be understated.
B
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Which of the following situations results in an infeasible transportation model?
a. When the total supply for the product generated by all sources equals the total demand consumed by all destinations b. When the total supply for the product generated by all sources is greater than the total demand consumed by all destinations c. When the total supply for the product generated by all sources is less than the total demand consumed by all destinations d. None of the above
When constructing the PDM, an activity can have
A) predecessors with no successors. B) successors with no predecessors. C) both predecessors and successors. D) all of the above.
Instead of placing limits on the amount of a product that can be imported into a country (a _________________________), many countries simply implement _________________________, or restrictions on the amount of a certain currency.
Fill in the blank(s) with the appropriate word(s).
Which of the following is NOT one of the six basic questions that a forecast must answer?
A) Who will be using the forecast? B) How much time do I have to develop the forecast? C) What is the time period of the forecast? D) How relevant is and what is the availability of historical data? E) How much profit will the firm be able to make?