This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The entry to record expired insurance is omitted. This error causes a. assets to be overstated. b. ... (Read 146 times)

NguyenJ

  • Hero Member
  • *****
  • Posts: 516
on: Jul 6, 2018
The entry to record expired insurance is omitted. This error causes
 a. assets to be overstated.
  b. expenses to be overstated.
  c. liabilities to be overstated.
  d. liabilities to be understated.
  e. an increase in liabilities on the balance sheet.

Question 2

As per the Rev. Rul. 59-60 (Sec. 4), which of the following factors should be considered in valuations?
 
  A) the price earnings ratio of the company
  B) the earning capacity of the company
  C) the fair market value of the stock of the business
  D) the book value of stocks of similar companies


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cassie_ragen

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jul 6, 2018
Answer to Question 1

A

Answer to Question 2

B
Explanation: B) Rev. Rul. 59-60 (Sec. 4 ) identifies eight valuation factors, although not all-inclusive, that should be considered, which includes the earning capacity of the company.


NguyenJ

  • Member
  • Posts: 516
Reply 2 on: Jul 6, 2018
Thanks for the timely response, appreciate it

tranoy

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Tracking time of marker entry generates a chromosome map Tracking time of marker entry generates a chromosome map
Monkeys and apes such as this chimpanzee can be recognized in the fossil record by the anatomy of th Monkeys and apes such as this chimpanzee can be recognized in the fossil record by the anatomy of th
Computerized Patient Record (CPR) Computerized Patient Record (CPR)
Equipment Inventory Record Equipment Inventory Record
An example of a late entry to the medical record. An example of a late entry to the medical record.
A color-coded record. A color-coded record.
Video: Osmosis - water transport

For a complete list of videos, visit our video library