Final Answer:
The statement "you can only add opening balances to tracked inventory items" is incorrect.
Explanation:
The statement provided contains incorrect information. In the context of inventory management, it is not true that you can only add opening balances to tracked inventory items. Tracked inventory items typically refer to items for which you want to maintain detailed records of quantities, values, and transactions. However, in many inventory management systems, including Xero, you have the flexibility to add opening balances for both tracked and non-tracked inventory items.
The ability to set opening balances is an essential feature for accurately managing inventory, as it allows you to establish the initial quantities and values of items on hand when you start using an inventory system. This is important for maintaining accurate records and conducting inventory-related tasks.
It's crucial to have the correct information to ensure accurate accounting and inventory management practices within the system. Therefore, it's essential to understand that you can add opening balances to both tracked and non-tracked inventory items, contrary to the statement presented.
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When government (public) savings decrease while private savings and domestic investment remain the same, the trade deficit will increase. This stems from the need for more foreign investment to compensate for the decrease in public savings.
In this question, trade deficit, public savings, and private savings are key factors impacting domestic investment. According to the equation Savings + (trade deficit) + (government budget surplus) = Investment, we can deduce the effect on the trade deficit.
In this scenario, domestic investment remains the same, private savings remain unchanged, but public savings decreases by $5 billion. When the government, which contributes to public savings, starts borrowing more (hence, a decrease in public savings), it forces an increase in the trade deficit. This is because the government is no longer providing savings, and if nothing else changes, more investment funds will need to come from abroad, increasing the trade deficit. Therefore, given the scenario, the trade deficit will increase.
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Answer:
Part (a) The shareholders equity is $145,000
Part (b) Option B best describes the balance sheet
Explanation:
Part (a)
Equity can be calculated from the following formula:
Equity = Assets - Liabilities
By putting the values, we have:
Equity = ($10,000 cash + $200,000 Store + $100,000 Property + $22,000 Accounts receivable) - ($17,000 Accounts payable + $170,000 Long-term debt)
Equity = $332,000 + $ $187,000 = $145,000
Part (b)
The reason is that the balance sheet presents the financial position of the company and financial position means how much the company is worth?, how much it has to pay its debts? and how much it has financed assets from its personal funds (equity and retained earnings). Balance sheets are published at the end of each accounting period. So option b is correct option here.
when you are following a car and are within 200-300 feet of it.
That follows or is subsequent in time or order; resulting in the next day. that will now be mentioned, described, related, or in a similar manner; that will now happen: For more information, see the following report.
Make sure your speed allows you to stop or turn if necessary. When you are 500 feet (approximately one block) or less from an approaching vehicle, turn on your low lights. When following another vehicle within 300 feet, you should also activate your low beams. If you are using your high beams while driving, you must turn them off at least 500 feet before any oncoming vehicles to avoid blinding the driver.
Therefore, A car is within 200-300 feet of it.
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