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please answer all these 6 multiple choices Which of the following businesses would most likely have the shortest operating cycle? A retail chain such as
please answer all these 6 multiple choices
Which of the following businesses would most likely have the shortest operating cycle? A retail chain such as Walmart A jewellery manufacturer such as Mappins A pizza franchise such as Pizza Pizza D A grocery chain such as Loblaws During 20B, Blue Corporation incurred operating expenses amounting to $100,000, of which $75,000 were paid in cash; the balance will be paid in January 20C. Transaction analysis of operating expenses for 20B, should reflect which of the following? decrease shareholders' equity, $100,000; decrease assets, $75,000: Increase liabilities $25,000 C decrease assets, $100,000; increase liabilities, $25,000; decrease shareholders' equity. $100,000 decrease shareholders' equity, $75,000; decrease assets, $75,000. decrease assets, $100,000; decrease shareholders' equity, $100,000 Which of the following errors would most likely lead to an overstatement of income? Recording reverene period when the cash is collected though it is samed in the curre Failure to defendant count for the portion of rented this O Recording an expense incurred this year when the cash is paid next year Failure tout prepad expense Court for the portion of insurance expired this year Which of the following accounts is closed at the end of the year but does not enter the calculation of net income? ories payable Inc Odende declared Which of the following statements is true about earnings per share? Do it represents the net income available to the preferred shareholders It evaluates the efficiency with which the company uses their assets to generate sales revenue It is the only ratio required to be disclosed on the income statement It assesses the ability of the firm to pay their bills as they come due In applying the revenue principle to a given transaction, the most important moment or period in time is when which of the following happens? o related expenses are incurred. the service contract is signed regarding service to be performed r related cash inflows occur. sales transaction is completed (i.e., ownership passes) or services are renderedStep by Step Solution
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