which of the following is incorrect?you can only add opening balances to tracked inventory itemsit's not possible to add opening balances using an inventory adjustmentopening balance is optional for tracked inventory items. if no opening balance is entered, xero will start with an opening balance of 0.you can add opening balances at any time after your start date. we recommend you add the opening balances immediately after you've set up your tracked inventory items

Answers

Answer 1

Answer:

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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Related Questions

Jay Bhattacharya and M. Kate Bundorf of Stanford University have found evidence that people who are obese and work for firms that have employer-provided health insurance receive lower wages than people working at those firms who are not obese. At firms that do not provide health insurance, obese workers do not receive lower wages than workers who are not obese.Source: Jay Bhattacharya and M. Kate Bundorf, "The Incidence of the Health Care Costs of Obesity," Journal of Health Economics, Vol. 28, No. 3, May 2009, pp. 649-58.Firms that provide workers with health insurance may pay a lower wage to obese workers than to workers who are not obese because the former tend to be less healthy and consequentlyA. more costly to insure and therefore employ due to their higher claim submission rate.B. experience higher rates of absenteeism and early retirement.C. less productive at work.D.all of the above.E. A and B only.
Equilibrium is defined when supply is limited and demand decreases. supply and demand meet. demand is higher than supply. supply is higher than demand.
The personal cultural orientation that questions whether the consumer avoids talking to strangers and prefers a routine is ________.
In some states, real estate agents are legally required to A. hire home inspectors to perform pre-sale inspections. B. appraise the values of the properties they sell. C. pay the fee for the pre-sale home inspection. D. back up the claims their clients make about home conditions
To protect consumers, the SEC requires brokers and dealers to information about securities. True or False

Which of the following is NOT a part of the free enterprise system?a. Private Property c. Freedom of Choice

b. Competition d. Government Regulation

Answers

The correct option for the following which is NOT a part of the free enterprise system is D. Government Regulation

What is a free enterprise system?

A free enterprisesystem is the freedom of people and companies to law. It permits people and businesses to create, produce, are capable and inclined, enterprising people produce items and offerings for produce and sell goods and offerings. on this gadget, no person forces human beings they trust to be excellent for them.

Conclusion: consumer preferences and spending conduct are the main drivers of business choices, now not authorities rules and intervention. Your selection to open a coffee store, begin a web business, or pick out to emerge as a health practitioner are all examples of an unfastened organization device at work.

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d. government regulation is the answer

Selling a good abroad below the price charged in the home market, or at a price below the cost of production is called

Answers

This practice is called undercutting. The Chinese are doing this to us at this point in time. Labor prices are very low in China. Our labor costs are much higher making the cost of goods higher to the consumer, whether that be a company sourcing goods for manufacture or the end consumer. The result is that they are able to sell more of their products then we can.Another result could, and often is, a company to move its facilities to another country, causing unemployment here.

Patton Company purchased $1,500,000 of 10% bonds of Scott Company on January 1, 2018, paying $1,410,375. The bonds mature January 1, 2028; interest is payable each July 1 and January 1. The discount of $89,625 provides an effective yield of 11%. Patton Company uses the effective-interest method and plans to hold these bonds to maturity. For the year ended December 31, 2018, Patton Company should report interest revenue from the Scott Company bonds of:

Answers

Answer:

Value of the bonds at December 31th: 1,415,658

Interest revenue: 77570.63 + 77712.01 = 152,282.64

Explanation:

effective rate method:

interest revenue: carrying value x market rate

1,410,375 x 5.5% = 77,570.63

and 1,412,946 x 5.5 = 77,712.01

cash proceeds: face value x bond rate

1,500,000 x 10%/2 = 75,000

amortization on bonds: the difference between each other.

77570.63- 75,000 = 2,570.63

77,712.01 - 75,000 = 2,712.01

Period Carrying procceds Interest Amortization Ending Value

June 1,410,375 75000 77570.63 2570.63 1,412,946

Dec 1,412,946 75000 77712.01 2712.01 1,415,658

4.manager wants to give a pay rise to everyone who is paid less than the average salary.
This table shows the annual salaries of the employees in the company.
Employee
Salary (in £ thousands)
AJ
16
TM
23
WF
23
SW
22
MT
15.5
RD
18.5
JR
20
LS
23
PB
36
Tick all of the employees who are paid less than the median salary.

Answers

Answer: AJ, MT, RD, Jr

Explanation:

Given the following data :

AJ - 16

TM - 23

WF - 23

SW - 22

MT - 15.5

RD - 18.5

Jr - 20

LS - 23

PB - 36

Median salary can be calculated thus :

Arranging salary in ascending order of Magnitude :

15.5, 16, 18.5, 20, 22, 23, 23, 23, 36 (£ thousand)

Meduan salary is the 5th figure in the arrangement = £22 thousand

Therefore, those earning less than the median salary are:

AJ, MT, RD, Jr

Risk is an important concept affecting security prices and rates of return. Risk is the chance that some unfavorable event will occur, and there is a trade-off between risk and return. The higher an investment’s risk, the equivalentItem 1 the return required to induce investors to purchase the asset. This relationship between risk and return indicates that investors are risk ---- :investors dislike risk and require--------- rates of return as an inducement to buy riskier securities. A--------- represents the additional compensation investors require for bearing risk; it is the difference between the expected rate of return on a given risky asset and that on a less risky asset. An asset’s risk can be considered in two ways: On a stand-alone basis and in a portfolio context.

Answers

Answer: Higher, averse , higher, risk premium.

Explanation: According to the question "Risk is an important concept affecting security prices and rates of return. Risk is the chance that some unfavorable event will occur, and there is a trade-off between risk and return. The higher an investment's risk, the HIGHER the return required to induce investors to purchase the asset. This relationship between risk and return indicates that investors are risk AVERSE; investors dislike risk and require HIGHER rates of return as an inducement to buy. A RISK PREMIUM represents the additional compensation investors require for bearing risk; it is the difference between the expected rate of return on a given risky asset and that on a less risky asset. An asset's risk can be considered in two ways: On a stand-alone basis and in a portfolio context".

If the price elasticity of demand for U.S. automobiles is higher in Europe than it is in the United States, and transport costs are zero, a price-discriminating monopolist would charge:__________. a. a less profitable price for autos in the United States than in Europe.
b. a lower price for autos in the United States than in Europe.
c. the same price for autos in the United States as in Europe.
d. a higher price for autos in the United States than in Europe.

Answers

Answer:

d. a higher price for autos in the United States than in Europe.

Explanation:

As it is mentioned that the price elasticity of demand in more in Europe as compared with the United States that represents a slight increase in price would decline the immense demand in Europe

Plus the elasticity in the united states is not high that reflects that change in price have a less impact on quantity demanded

Therefore the option d is correct

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