At March 1, Progressive Auto Inc

question 148

Multiple Choice

At March 1, Progressive Auto Inc.reported a balance in Supplies of $200.During March, the company purchased supplies for $750 and consumed supplies of $800.If no adjusting entry is made for supplies

• A)equity will be overstated by $800.
• B)expenses will be understated by $750.
• C)assets will be understated by $150.
• D)net income will be understated by $800.

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Definitions:

Person Perception

The process by which individuals form impressions and make judgments about the characteristics and motives of others based on available information.

Implicit Personality Theory

A psychological theory suggesting that individuals use a small set of traits and behaviors to make assumptions and judgments about the personalities of others.

Predictive Relationship

A form of correlation where one variable can be used to predict the behavior of another variable.

Attractiveness

A quality that appeals to the senses or emotions, making something or someone appealing or desirable.