If a company incorrectly records a payment as an asset instead of an expense, how will this error affect net income in the current period?
A. Net income will never be affected by this error because assets are reported on the balance sheet.
B. Net income will be too high.
C. Net income will not be affected by this error in the current period, but will be too low in a later period.
D. Net income will be too low.
Answer: B
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Janelle works for a large retail store. On Mondays and Tuesdays, she works in the garden section. On Wednesdays and Thursdays, she works in sporting goods. On Fridays, she works a register. This is an example of ______.
a. job enrichment b. job simplification c. job rotation d. job enlargement
Branded services are usually free or low cost and offer target customers benefits that leave a positive impression about a company.
Answer the following statement true (T) or false (F)
ISDN equipment that can plug directly into NT equipment includes
a. only TE1s b. only TE2s c. only TAs d. TE1s and TAs
An ________ refers to the policies and procedures managers use to protect assets, ensure reliable accounting, promote efficient operations, and urge adherence to company policies.
What will be an ideal response?