Cuff and Link Co. purchased machinery that cost $1,800,000 on January 4, 2013. The entire cost was recorded as an expense. The machinery has a nine-year life and a $120,000 residual value. The error was discovered on December 20, 2015. Ignore income tax considerations.

a. Cuff & Link's income statement for the year ended December 31, 2014, should show the cumulative effect of this error in the amount of:
b. Before the correction was made, and before the books were closed on December 31, 2015, retained earnings was understated by:

The legal form of business ownership that is owned by many people is called a

Suppose that hubert, an economist from an am talk radio program, and kate, an economist from a nonprofit organization on the west coast, are arguing over government bailouts. the following dialogue shows an excerpt from their debate: kate: to recent financial crises, the concept of bailouts is a hot topic for debate among everyone these days. hubert: indeed, it’s gotten crazy! a government bailout of severely distressed financial firms is unnecessary because free markets will properly price assets. kate: i don’t know about that. without a bailout of severely distressed financial firms, the economy will experience a deep recession. the disagreement between these economists is most likely due todifferences in scientific judgments . despite their differences, with which proposition are two economists chosen at random most likely to agree? business managers can raise profit more easily by reducing costs than by raising revenue. central banks should focus more on maintaining low unemployment than on maintaining low inflation. employers should not be restricted from outsourcing work to foreign nations

3. which of the following occupations relate to a skill category of mathematics and data? select all that apply. (2 correct answers) engineer financial analyst mechanic sales person 4. which of the following occupations relate to a skill category of words and literacy? select all that apply. (2 correct answers) educator lawyer marketing manager psychologist architect