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 147 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
Great answer, keep it coming :)

kilada

  • Member
  • Posts: 311
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Tracking time of marker entry generates a chromosome map Tracking time of marker entry generates a chromosome map
When the United States gets stuck over a controversial issue—usually something a divided Congress ca When the United States gets stuck over a controversial issue—usually something a divided Congress ca
A medical assistant performs a spirometry test using electronic health record software. A medical assistant performs a spirometry test using electronic health record software.
Example of Index entry for an anatomic site with a cross-reference. Example of Index entry for an anatomic site with a cross-reference.
Regulation of Bacteriophage Entry into the Lytic or Lysogenic Cycle Regulation of Bacteriophage Entry into the Lytic or Lysogenic Cycle
Type of entry grade 1 Type of entry grade 1
Video: Epidural Hematoma

For a complete list of videos, visit our video library