If the Financial Statements of Sushi Show, Inc

question 8

Multiple Choice

If the financial statements of Sushi Show, Inc.show $500 of over-applied overhead for the current year, where will that balance be shown in the financial statements if not material?

• A)in the current assets section as a prepaid amount
• B)No amount should be shown in the financial statements for over-applied overhead.
• C)in the current liabilities section as Unearned Revenue
• D)as part of Cost of Goods Sold

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Definitions:

Health Maintenance Organization

A medical insurance group that provides health services for a fixed annual fee, focusing on preventative care.

Discounted Services

Services offered at reduced prices, often to attract customers or as a benefit for certain groups, such as employees or members.

Blue Cross / Blue Shield

A federation of health insurance organizations specializing in providing healthcare coverage to millions of people in the United States.

Preferred Provider Organizations

Health insurance plans that offer a network of healthcare providers who provide services to subscribers at a lower cost compared to out-of-network providers.