Examlex
Use the information below to answer the following questions:
Leslie Ltd has found an error in its revenue account: an invoice for $3000 was recorded as revenue in 2011 when it should have been recorded in 2012. The company’s income tax rate is 40% and there was no corresponding error in cost of goods sold.
-What is the effect of the error on 2011 cash from operations?
Information Power
Information power is the access to and/or the control of information.
Positive Valence
A term used in psychology to describe the attractive or desirable nature of a stimulus, which influences a person’s motivation to pursue or engage in it.
Negative Valence
The negative emotional charge or undesirable assessment associated with a thought, event, or stimulus.
Money Orders
A payment order for a pre-specified amount of money, often used as a safer alternative to cash or personal checks.
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