A Explain the Effect of the Following on the Financial

question 53

Essay

a. Explain the effect of the following on the financial statements:​Goods held on consignment were included in the ending inventory count.​Goods purchased FOB shipping point were in transit on the last day of the year.These goods were not counted as part of ending inventory.​Goods sold FOB shipping point were in transit on the last day of the year.These goods were not counted as part of ending inventory.​​b. What happens if inventory errors are not found and corrected?

Identify and describe the processes of top-down and bottom-up processing in perception.

Understand the significance and effects of saturation in color perception.

Learn about how our vision system incorporates both physical light properties and psychological interpretation to form visual perception.

Explain how perception organizes and interprets visual information through various theories and models.

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Definitions:

Related Expense

Costs that are directly connected to or a result of a specific business activity or operation.

Subsidiary Contract

An agreement or contract involving a company that is controlled by another parent company.

Initial Value Method

An accounting practice for investment recording wherein the investment is kept at its original cost on the balance sheet without adjusting for changes in net income of the investee.

Dividends

Earnings disbursed by a company to its shareholders, generally as a sharing of profits.