Risers Inc

question 82

Multiple Choice

Risers Inc.reported total assets of $1,200,000 and net income of $135,000 for the current year.Risers determined that inventory was overstated by $10,000 at the beginning of the year (this was not corrected) .What is the corrected amount for total assets and net income for the year?

• A)$1,200,000 and $135,000.
• B)$1,200,000 and $145,000.
• C)$1,190,000 and $125,000.
• D)$1,210,000 and $145,000.

Understand how to use Power Pivot for data analysis.

Know the functions and their usage for financial calculations in Excel.

Understand Excel's capabilities for identifying and resolving formula errors and tracing cell dependencies.

Understand different managerial strategies and their applicability to various organizational contexts.

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Definitions:

Normative Economics

A branch of economics that examines the desirability of certain aspects of the economy, focusing on what should be rather than what is.

Fallacy Of Inductive Reasoning

The fallacy of inductive reasoning occurs when a general conclusion is drawn from a limited set of specific observations, potentially leading to erroneous or unfounded claims.

Post Hoc, Ergo Propter Hoc

A logical fallacy where it is assumed that if one event follows another, the first event caused the second.

Stability

A condition in which national output is growing steadily, with low inflation and full employment of resources.