Leslie Ltd Has Found an Error in Its Revenue Account

question 22

Multiple Choice

Leslie Ltd has found an error in its revenue account: an invoice for $3000 was recorded as revenue in 2015 when it should have been recorded in 2016.The company's income tax rate is 40 per cent and there was no corresponding error in cost of goods sold.
-What is the effect of the error on 2015 cash from operations?

• A) There is no cash effect.
• B) It is $1200 too high.
• C) It is $1800 too high.
• D) It is $3000 too high.

Grasp the concept of perceptual constancy, including size, shape, and lightness constancy.

Recognize the influence of experience and critical periods on visual perception development.

Identify and explain various perceptual cues and their roles in depth and distance estimation.

Understand the significance of contextual influences on perception, such as perceptual set and stereotypes.

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Definitions:

Design View

A mode in software applications that allows users to layout or modify elements visually, without interacting with code directly.

Limit To List

A feature in data validation that restricts input to a predefined set of values, ensuring data integrity.

Lookup Property

A feature in databases and software that allows fields in a table to match and retrieve corresponding information from another table or list.

Lookup Field

A field in databases or software applications used to search and retrieve data from another table or list, based on a specific query.