The September 30,2014,physical Inventory of Pollack Corporation Appropriately Included $6,300

question 77

Multiple Choice

The September 30,2014,physical inventory of Pollack Corporation appropriately included $6,300 of merchandise purchased on account that was not recorded in purchases until October 2014.What effect will this error have on September 30,2014,assets,liabilities,retained earnings,and earnings for the year then ended,respectively?

• A) Understate;no effect;overstate;overstate
• B) No effect;overstate;understate;understate
• C) No effect;understate;overstate;overstate
• D) No effect;understate;understate;overstate

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Definitions:

Moral Leadership

A style of leadership that is based on ethical principles and values, aiming to influence others through moral authority.

Capabilities

The skills, expertise, and resources that an organization or individual has, which enable them to achieve their objectives and perform activities.

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The ability to recognize, understand, and manage one's own emotions and those of others, which is crucial for effective interpersonal relations and leadership.

Personal Competency

The range of one's abilities and skills that contribute to achieving high performance and success in personal or professional tasks.