If a company forgot to prepare an adjusting entry to record salaries and wages incurred but unpaid at the end of the period, Total Liabilities would be understated and Retained Earnings would be understated on the Balance Sheet.
Answer the following statement true (T) or false (F)
False
If the adjusting entry to accrue unpaid salaries and wages is not made (Salaries and Wages Payable) a liability account will be understated, which means that Total Liabilities will be understated. Salaries and Wages Expense would also be understated, which means that expenses would be understated and net income will be overstated. This overstatement of net income would cause Retained Earnings to be overstated.
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Each attribute in a table can have several names.
Answer the following statement true (T) or false (F)
Discuss the hesitation (that may be justified) associated with teaching ethics. Explain briefly how the authors of this text believe that ethics can be taught constructively in a class.
What will be an ideal response?
Boris Jankowski is a salesperson for a manufacturer of beer making equipment. He learns that a regional microbrewery is going to expand into another state. It has created a buying center to purchase the needed equipment. Boris's first job is to ________.
A. develop criteria for the purchase B. discover the most important influencer C. develop a presentation for the buying center D. discover the budget for the purchase E. discover who is part of the buying center
According to the Uniform Simultaneous Death Act, each deceased's property goes to the government in case of simultaneous deaths
Indicate whether the statement is true or false