Answer:
Please, for answer see attached file.
Explanation:
The difference will be between the gross profit in the years 2016 and 2017, because of the error. This is because the error will cause a difference in the cost of sold goods.
In the year 2018, there will be no difference because the beginning inventory and final inventory are right.
But, for the three-year period, there will no be a difference in the total, because both, beginning and final inventory are correctly registered.
Answer:
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Answer:
Taylor Company
The negligence to amortize the discount on outstanding ten-year bonds payable is the understatement of interest expense for each year. This means that the interest expense will be the same for each year instead of increasing by the amortized discount amount. The same applies to the bond carrying value, which will remain the same throughout the period.
Explanation:
The discount on bonds payable is an additional interest expense, which is written off yearly over the bonds' maturity period through amortization. It increases the amount of the periodic interest payment by the amortized discount.
With respect to the environment in which a business operates, factors such as competition, political and legal forces, and economic climate would all be classified as uncontrollable elements.
What is a controllable element of the marketing environment?
- To adapt to shifting market conditions, consumer preferences, or business goals, the controllable variables can be changed throughout time as well as typically in the short term.
- Products, prices, promotions, distribution, and research efforts are among the variables that can be controlled.
What is the macro environment?
The main uncontrollable outside factors (economic, demographic, technological, natural, social and cultural, legal, and political) that have an impact on a firm's performance and decision-making.
Learn more about uncontrollable elements
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