Risers Inc

question 47

Multiple Choice

Risers Inc.reported total assets of $1,600,000 and net income of $85,000 for the current year.Risers determined that inventory was understated by $23,000 at the beginning of the year and $10,000 at the end of the year.What is the corrected amount for total assets and net income for the year?

• A)$1,610,000 and $95,000.
• B)$1,590,000 and $98,000.
• C)$1,610,000 and $72,000.
• D)$1,600,000 and $85,000.

Understand the significant conflicts during the Constitutional Convention and how they were resolved.

Analyze the arguments for and against the ratification of the Constitution by Federalists and Antifederalists.

Explain how the Constitution addresses issues of social and political equality and the evolution of these concepts since its ratification.

Evaluate British actions against the colonies in the context of "unalienable rights" defined in the Declaration of Independence.

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Definitions:

Elastic

Describes a situation in which a change in price leads to a significant change in the quantity demanded or supplied of a good or service.

Supply

The total amount of a good or service that is available to consumers at a given price level and time.

Demand

The desire and ability of consumers to purchase a good or service at a given price.

Tax

A required financial contribution or alternative type of tax placed on a taxpayer by a state authority to cover government outlays and assorted public spending.