The first step in budgeting is to evaluate your current financial position by looking at just your income and expenses

The accountant for Belden Jewelry Repair Services, Inc. forgot to make an adjusting entry for Depreciation Expense for the current year. Which of the following is an effect of this error?

A) Total assets are understated. B) Revenues are overstated. C) Total assets are overstated. D) Net income is understated.

Under which of the following conditions will an international organization move toward an integrated structure?

A) when it has a limited percentage of its total business in foreign countries B) when it has worldwide product diversity and a large-scale foreign business C) when it has low product diversity contributing a large portion of its foreign business D) when it has a limited number of product divisions in the foreign countries