A $18 credit to Sales was posted as a $180 credit. By what amount is the Sales account in error?
A. $180 understated.
B. $162 overstated.
C. $18 understated.
D. $162 understated.
E. $180 overstated.
Answer: B
You might also like to view...
Internal benchmarking is discouraged in most organizations because it creates competition and internal rivalries that are counterproductive.
Answer the following statement true (T) or false (F)
Rotter Garder Inc is a large-scale paint manufacturer and is known for its wide range of decorative paint products and industrial coatings. In addition to making paints, the company also owns and operates the retail stores which sell its products
This is an example of a(n) ________ vertical marketing system. A) administered B) contractual C) referent D) corporate E) regulated
The Body Balance Fitness Company completed the flexible budget analysis for the second quarter, which is given below.
Which of the following statements would be a correct factor to explain the flexible budget variance for variable costs?
A) decrease in sales price per unit
B) increase in variable cost per unit
C) increase in sales volume
D) increase in fixed costs
If Oui Watches sells 300 watches at $48 per watch and has variable costs of $20 per watch and fixed costs of $4,000, what is the projected profit?
a. $4,000 b. $4,400 c. $8,400 d. $12,000