Answer:
Explanation:
Product vs Service Business
While it may seem to go against traditional thinking, in some ways there is very little difference between product based and service based companies. In actuality, both sell a product. The distinction between the two is that the product business sells a physical, tangible product, while the service business owner sells his skills as the primary product. In the service-based business, customers purchase the skills of a service provider or owner, such as a plumber or lawyer, This type of business has a strong emphasis on the client relationship and makes the customer's user experience very important. Product-based businesses, on the other hand, deliver physical products that are reasonably consistent in quality for each customer, making the customer experience fairly predictable.
Local or Global Consumer Markets
In general, when consumers are looking for new solutions they try to distinguish the different services/products of business and industry in the locality where they reside. As such, businesses need to target their product and service based businesses to the appropriate markets. Consumers located anywhere in the global market can purchase a product via the internet as long as they can have their purchase delivered locally and cost effectively. However, most service businesses can only provide services to customers within their local target market. For example, while a computer store can ship computers all over the world, a hairstylist will only attract clients within a reasonable driving distance from her home or business. As a result, businesses need to consider how their customer base will influence their marketing efforts.
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Auditing standards require that auditors document Group of answer choices all conversations with management. results of the procedures performed to address the risk of management override of controls. specific risks of fraud identified at the financial statement level, but not at the assertion level. all of the above.
Answer:
results of the procedures performed to address the risk of management override of controls.
Explanation:
Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.
The purpose of internal controls is that companies use strong internal controls to guarantee that loss is eliminated as there's an accurate and reliable accounting system.
Basically, an internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency.
An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.
Auditing standards require that auditors document results of the procedures performed to address the risk of management override of controls in accordance with the public company accounting oversight board (PCAOB).
Organization costs must be expensed as incurred. b. A copyright should be considered an intangible with an indefinite life. c. The registration of a trademark or trade name lasts for 20 years and is nonrenewable. d. A patent should be amortized over the shorter of the inventor's life or its economic life.
Answer:
c. a patent should be amortized over the shorter of the inventor's life or its economic life
Explanation:
Which of the following statements concerning intangibles is true?
a. a copyright should be considered an intangible with an indefinite life
b. organization costs must be expensed as incurred
c. a patent should be amortized over the shorter of the inventor's life or its economic life
d. the registration of a trademark or tradename lasts for 20 years and is non-renewable
Patents are a right granted to an inventor to exclusively sell a product for a specific period of time usually for 20 years. During this period, others are prevented from making, using, or selling the invention. A patent should be amortized over the shorter of the inventor's life or its economic life.
Types of patents include:
1. utility patents
2. design patents
3. plant patent
Copyright gives the inventor of a product and anyone they give the permission to the right to reproduce the product. Copyrights have limited lives
A _______________ guarantees that if the contract owner of a variable annuity dies prior to annuitization the beneficiary will receive at least as much from the variable annuity as the owner paid in premiums.
Answer:
Guaranteed Death Benefit
Explanation:
A guaranteed death benefit may be defined as a benefit term which guarantees that a beneficiary will surely receive a [tex]\text{death benefit}[/tex] if the annuitant expires or dies before the annuity begins paying the benefits.
It is a safety net where when the annuity dies while making the payments or the contract is in the accumulation phase.
Variable annuity is defined as an agreement or a [tex]\text{contract}[/tex] between a person and the [tex]\text{insurance company}[/tex], under which the [tex]\text{insurer agrees}[/tex] to make [tex]\text{periodic payments}[/tex] to the person, beginning either immediately or at some future date.
Thus, [tex]\text{Guaranteed Death Benefit}[/tex] guarantees a beneficiary to receive payments from the variable annuity which is guaranteed by the Guaranteed Death Benefit when the contract owner of the variable annuity dies before annuitization.
One of the following must be used as a starting point in order to perform an analysis that will determine what the connections between imbalances of trade in goods and services and the flows of international financial capital are. Which one is it?
A. sketch patterns of trade deficits
B. sketch patterns of trade surpluses
C. define the level of trade
D. define the balance of trade
Answer:
Option d: Define the balance of trade
Explanation:
Balance of trade
This is simply known as the difference in terms of value between the import and exports of a particular country. It is known as one of the starting point in order to perform an analysis that will determine what the connections between imbalances of trade in goods and services and the flows of international financial capital.
The Factors that can affect the balance of trade
1. Cost of production
2. Cost and availability of raw exchange rate movements
Lucia wants to use a safe deposit box. What will this process MOST likely include? A. visiting a bank and paying a fee B. uploading documents to a computer C. getting someone to cosign for his box D. applying for a loan
Answer: Answer is A,,,,,,,,,,
Lucia wants to use a safe deposit box. The process MOST likely include is visiting a bank and paying a fee. Thus the correct option is A.
What is a Bank?A bank is referred to as a financial institution that allows an individual to deposit and withdraw cash and allow them to borrow funds with a fixed interest rate for investment.
The bank provides you with a key when you rent a deposit box from them, and you must apply it in combination with a second "guard key" kept by a bank employee to open the box.
In the given case, it is explained that Lucia wants to use a safe deposit box. Banks are referred to as financial institutions that are connected or authorized by Government due to which they are considered as safe.
Therefore, option A is appropriate.
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A lease provides that a retail tenant pays $900 minimum rent per month plus 3% of the gross sales in excess of $200,000 per year. If the tenant paid a total rent of $20,520 last year, what was the gross sales volume
Answer:
45,650
Explanation:
The gross sales volume was $45,650.
What was the gross sales volume?The entire quantity of incoming income throughout a specific time frame.
Gross sales are discussed with the grand overall of all income transactions over a given time period. this doesn't encompass the cost of income or deductions
sales volume refers to the number of units your corporation sells at some point of a selected reporting duration. this era may be a month, a quarter, or a year relying on what degree of sales extent you are in search of to research. buyers often study sales volume to assess the fitness of a developing or contracting business enterprise.
To calculate gross sales, upload the total income revenue for a specified time period—monthly, quarterly, or annually.
The minimum rent per month is $900.
gross sale percentage = 3%
The tenant paid a total rent of $20,520 last year.
The gross sales volume = $45,650.
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four factors that affect the productivity of an office worker
Answer:
not enough sleep
no breakfast
noise
distractions
Which of these correctly describes the statute of limitations as it applies to real estate? Unset starred question A wronged party can initiate a court action at any time after closing but before reselling the property. The buyer has the time between the inspection and closing to initiate a court action against the seller. There’s a time limit for a wronged party (buyer or seller) to initiate a court action. The seller has a limited time after closing to disclose any known defects with the property.
Answer:
There’s a time limit for a wronged party (buyer or seller) to initiate a court action.
Explanation:
The best statement that correctly describes the statute of limitations as it applies to real estate is the "There’s a time limit for a wronged party (buyer or seller) to initiate a court action."
This is evident in the fact that depending on the bone of contention or the main issues, there are certain but limited times required for the wronged party to go through litigation to resolve the issue.
For example in California, United States, there are Six Primary Statutes of Limitation apply in Real Estate Sales Transactions and Litigation and each has limited time with 4years of Limitations for Breach of Contract, and 2 years for Limitations for Actions Against a Real Estate Broker Agent, etc.
Which of the following can a grocery store change in the long run?
A. the number of shelves, employees, and parking spaces in the parking lot
B. the type of grocery carts, magazine racks, and produce displays
C. the store location, sign on the storefront, and advertising on the media
D. all of the above
Answer:
I believe all of the above
Explanation:
went with what came to mind if its wrong very sorry.
A grocery store change, in the long run, is all of the above. Thus the correct option is D.
What is the importance of change?In order to remain in competition an organization needs to work on bringing change and innovation in the process as well as a product that helps them in achieving higher revenue by following trends and preferences.
If an organization adopts change frequently it shows its flexibility to cope with the demands of the market in order to meet the level of satisfaction of customers.
A grocery store that is planning to grow may eventually affect the number of shelves, staff, and parking places in the lot which helps in better services to their customers.
The design of the fruit displays, magazine racks, and grocery trolleys as well as the store's location, storefront sign, and media advertising can all help to increase sales and draw in more customers.
Therefore, option D is appropriate.
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what is an important function of the federal trade commission?
a. inspecting workplaces for safety violations
b. identifying unfair pricing strategies
c. negotiating trade agreements
d. deciding if discrimination complaints are valid
Answer:
The FTC protects consumers by stopping unfair, deceptive or fraudulent practices in the marketplace. We conduct investigations, sue companies and people that violate the law, develop rules to ensure a vibrant marketplace, and educate consumers and businesses about their rights and responsibilities.
Answer:Identifying unfair pricing strategies (B)
Explanation:
A residence was assessed annual county property taxes of $5,000. The residence was occupied by a life tenant who lived on the premises rent-free. The residence could have been rented to a third party for $2,000 a month. The life tenant did not pay the property taxes. Instead, the holder of the remainder interest paid them to prevent the county from imposing a lien on the property or possibly foreclosing on the property. The fair market value of the life estate was 10 percent of the fair market value of the property held in fee simple absolute. Can the holder of the remainder interest recover the tax payment from the life tenant
Answer: Yes, because the life tenant owes the holder of a remainder interest a duty to pay the property taxes.
Explanation:
Based on the information given, the holder of the remainder interest can recover the tax payment from the life tenant because the life tenant owes the holder of a remainder interest a duty to pay the property taxes.
It should be noted that it's the obligation of life tenants to pay all ordinary taxes on the land as well as the interest on the mortgage. In a situation whereby an incime isn't produced by the property like in the scenario given in the question, then the life tenant will be responsible for the taxes and the interest on the mortgage to the extent of a reasonable rental value of the land.
Keys, Inc. purchased 100 shares of its own common stock for $10 per share. The stock is now classified as ______ stock, a contra equity account, reported on the statement of stockholder's equity. Multiple choice question. convertible treasury callable preferred g
Answer:
treasury
Explanation:
Treasury shares are shares that have been issued and later repurchased by the company. They decrease the total number of shares outstanding .
Treasury shares are not used to calculate earnings per share
treasury shares do not have voting rights
Treasury stock is a contra equity account recorded in the shareholder's equity
Agent Don plans to conduct a marketing/sales event at the local public library on October 28 at 2pm. He received permission to post an advertisement on the library bulletin board starting October 14. What is the latest date Don could submit a NEW Event Request Form to UnitedHealthcare in order to comply with UnitedHealthcare's event reporting rules
Answer:
5th Nov is the latest date don could submit a event request.
Explanation:
The marketing and sales event can both be organized at the health care. These events can be planned no less than 7 days of the colander before the day of the event. These event can e both formal and informal.A company has the following: Cash balance per books, December 31, $82,600. Note receivable of $1,750 plus $250 of interest collected, $2,000. Outstanding checks, $4,900. Deposits in transit, $2,500. Bank service charges, $50. NSF check, $650. The company erroneously recorded a $1,000 cash payment on its books as a $100 cash payment. Also, the bank erroneously deducted $300 from the company’s checking account. The bank should have taken the money from a different customer’s account. How much is the adjusted cash balance per books on December 31?
Answer:
$83,000
Explanation:
Calculation to determine How much is the adjusted cash balance per books on December 31?
Balance per books on Dec. 31, $82,600
Add Note collected by the bank including interest $2,000
Less Bank service charge ($50)
Less NSF check ($650)
Less Book error ($900)
($1000-100)
Adjusted cash balance per books $83,000
Therefore the adjusted cash balance per books on December 31 is $83,000
An electronics store located in Los Angeles, California, purchases electronics from an electronics corporation located in San Antonio, Texas. On January 19, the electronics store mailed to the corporation an order for $200,000 worth of electronics, specifying that delivery was to be no later than February 25, F.O.B. South Texas Railroad Depot, San Antonio, Texas. The corporation delivered the electronics to the railroad depot on February 15 and notified the electronics store by fax that its order was scheduled to arrive at the Southern Pacific Railroad Depot in Los Angeles on February 20. On February 17, the corporation learned that the electronics store was insolvent. The corporation demands immediate payment in cash for the electronics. Is this demand permissible
Answer: Yes because the electronics store is insolvent.
Explanation:
Since the corporation learned that the electronics store was insolvent, and the corporation demands immediate payment in cash for the electronics, the demand is permissible because the electronics store is insolvent.
In this case, the electronic store is insolvent and therefore, unable to pay the debts that are owed and therefore, the demand is permissible in this case.
Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The journal entry to record June production activities for direct material usage is: Direct materials used $ 100,000 Direct labor used 173,000 Predetermined overhead rate (based on direct labor) 160 % Goods transferred to finished goods 445,000 Cost of goods sold 457,000 Credit sales
Answer and Explanation:
The journal entry is given below:
Work in process inventory Dr $100,000
To raw material inventory $100,000
(being the usage of the direct material is recorded)
here the work in process is debited as it increased the assets and credited the raw material inventory as it decreased the assets
Ludwig borrowed $700,000 for a
period of 2 years. His interest rate is
10%. How much interest will
Ludwig pay in all?
$[?]
Answer:
$140000
Explanation:
Principle = $700000
Rate = 10%
Time = 2 years
Simple interest = P x R x T / 100
Simple interest = 700000 x 10 x 2 / 100
Simple interest = 70000 x 2
Simple interest = $140000
A firm that can effectively price discriminate will charge a higher price to Group of answer choices customers who have the more inelastic demand for the product. buyers who belong to the largest market segment. customers who have the more elastic demand for the product. buyers who are members of the smallest market segment.
Answer:
customers who have the more inelastic demand for the product.
Explanation:
Price discrimination is when the same product is sold at different prices to customers in different markets
types of price discrimination
1. first degree price discrimination : here sellers charge each consumer at their willingness to pay in order to eliminate consumer surplus.
2. second degree price discrimination : here firms offer different prices depending on the quantity purchased. e.g. giving discounts for bulk purchases.
3, third degree price discrimination : firms charge different prices to different groups of customers. e.g. having a certain price for senior citizens, students
Requirements to practice successful price discrimination
1. The firm must have market power. If the firm does not have market power and attempts to price discriminate they would lose customers
2. The firm must have different elasticities of demand for their product in different markets
3. The firm must be able to segment the market for their products
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
If a firm charges the higher price in the market where customers have a more inelastic demand, the fall in quantity demanded would be less than the increase in price. As a result, total revenue would increase
If on the other hand, the higher price is charged in the market with the more elastic demand, the fall in quantity demanded would exceed the price increase. As a result, total revenue would fall.
Fredrick purchased a property worth $150,000 on mortgage. He paid $30,000 as a down payment on this property. However, a recent slump in real estate prices forced Fredrick to sell the property for $115,000 only 2 months later. This sale is termed a(n): Group of answer choices
Answer:
Real estate short sale
Explanation:
Real estate is defined as a piece of land and any attached property that is constructed on it.
In real estate business a real estate short sale occurs when the person that owns a property decides to sell the property at a price that is less than the amount on the mortgage.
This usually occurs as a result of financial distress of the owner.
In the given scenario the property has a mortgage value of $150,000 and down payment of $30,000 has been made.
The mortgage amount is now $150,000 - $30,000 = $120,000
However they now sell the property for $115,000 which is less than the remaining mortgage value of $120,000.
This is and example of real estate short sale.
As the number of multinational corporations continues to grow, we are experiencing a greater number of international ethical dilemmas. One very real concern has been the human rights abuses in sweatshops in exchange for cheap labor. Several retailers have now banded together to set ethical standards in foreign factories. Which statement summarizes the challenges of companies doing business in developing countries and the concerns of their customers
Answer:
Multinationals must subjectively determine the local living wage, which is usually more than the local legal wage in developing countries. Customers surveyed say they are willing to pay a few dollars more to improve working conditions in sweatshops.
Explanation:
A sweatshops may be defined as a factory or firm which violates some of the labor laws of the United States as stated by the US department of labor.
In these sweatshops, they provide unfair wages, the working conditions are very poor, proper labor laws are not followed extended working hours, exploitation of labor takes place.
This has been a real challenge the developing countries are facing. This can be improved as the multinational companies determines a higher local living wage than the legal wage in some of the developing countries. Even the customers of their products are coming forward and are willing to pay more for the products so that the working conditions of the sweatshops improves.
Genna approached Al Ternator about joining the business as an owner. She offered to provide the technical expertise and deal directly with customers, while Al, who has a degree in finance, takes care of the financial side of running Car Keepers. In addition, Genna wants Al to contribute some much-needed money for expansion. Under Genna's proposal, she and Al would operate the business together as
As a partnership.
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What is the relationship between insurance and successful financial management? 1. Why is insurance important? 2. Consider your home and possessions. What types of risks do you face? What insurance would you recommend to someone in a similar location? 3. What are personal, property, and liability risks? What are examples of personal, property, and liability risk? 4. Why is estate planning important? 5. What is the principle of indemnity? Why is this principle important?
Answer:
insurance is important in that it helps you indemnity the losses occured after the risk occurrence
Explanation:
insurance ensures that you are covered from all period and hazards
1. What is the relationship between insurance and successful financial management? Why is insurance important?
The relationship between insurance and successful financial management is important because while successful financial management helps with unexpected situations requiring emergency planning, insurance is a contract made to ensure that your assets are protected and damage paid for if that event occurs.2. Consider your home and possessions. What types of risks do you face? What insurance would you recommend to someone in a similar location?
You could be risked by fires, high winds, hail, and lightning damage to protect your possessions you would need Homeowners insurance. To be protected from natural disasters you may need additional coverage (if natural disasters occur often).3. What are personal, property, and liability risks? What are examples of personal, property, and liability risk?
Some personal, property, and liability risks would be poor health and old age, having your property damaged, and being responsible for something that happens that could lead to a lawsuit.4. Why is estate planning important?
Estate planning can be important because estate planning is about protecting your loved ones, transferring your assets to heirs.5. What is the principle of indemnity? Why is this principle important?
The principle of indemnity is compensation, ensuring that you will not lose any finances.Place the steps of the marketing research approach in the correct order. (Note: the first step should be the top item on your list and the last step should be at the bottom of your list) Instructions Choice 1 of 5. develop the research plan toggle button develop the research plan Choice 2 of 5. collect relevant information toggle button collect relevant information Choice 3 of 5. develop findings toggle button develop findings Choice 4 of 5. take marketing actions toggle button take marketing actions Choice 5 of 5. define the problem toggle button define the problem
Answer:
Choice 5 of 5. Define the problem
Choice 1 of 5. Develop a research plan
Choice 2 of 5. Collect relevant information
Choice 3 of 5. Develop findings
Choice 4 of 5. Take marketing actions
Explanation:
The steps of the marketing research approach includes
Step 1: Defining the problem
Step 2: Construction of the ideologies from which the problem is approached
Step 3: Formulation of research designs through which data and information are collected
Step 4: The collection and analysis
Step 5: Presentation of report and take marketing action
Therefore, the correct order from the given options are;
Choice 5 of 5. Define the problem
At this stage, the problem that is the basis for the research is clearly defined, including the background information, the purpose of the research, and the information that could be useful in decision making
Choice 1 of 5. Develop a research plan
The blueprint or outline of how the research is to be conducted
Choice 2 of 5. Collect relevant information
The fieldwork in collection of data from the listed sources in the research blueprint
Choice 3 of 5. Develop findings
The findings are analyzed to derive the actionable research results
Choice 4 of 5. Take marketing actions
The implementation of the made decision
Answer:
1. Defining objectives and needs
2. Designing the research
3. Collecting the data
4. Analyzing data and developing insights
5. Developing and implementing an action plan
identify the true statements about managing cycle stocks. (Check all that apply.) Multiple select question. The primary driver of cycle stock is the order quantity. Reduction in order costs results in an increase in cycle stock. Offering the lowest possible price per unit regardless of order quantity would result in smaller order quantities. One way to reduce total average inventory is to reduce the order quantity.
The true statements are:
The main driver of the cycle stock represents the order quantity.If the less possible price per unit is offered irrespective of the order quantity so this should have resulted in the fewer order quantities. In order to decrease the overall average inventory, we have to decrease the order quantity.The stock cycle should be managed by:
Order quantity.Few possible prices per unit so that there is a fewer order quantity.When the overall average inventory is decreased so the order quantity is also decreased.But it should not be managed by the decrease in the cost of the order via increment in the cycle stock.
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ASAP PLEASEEE!!! If the price level were to rise from 160 to 200, in what direction and by how much would the value of a dollar change?
Answer:
- Downward direction
- The change in dollar value is 0.00125
Explanation:
Given
[tex]P_1 = 160[/tex]
[tex]P_2 = 200[/tex]
Required
Direction and value of dollar change
Value is calculated using
[tex]V = \frac{1}{P}[/tex]
When [tex]P_1 = 160[/tex], the value is:
[tex]V_1 = \frac{1}{160}[/tex]
[tex]V_1 = 0.00625[/tex]
When [tex]P_2 = 200[/tex], the value is:
[tex]V_2 = \frac{1}{200}[/tex]
[tex]V_2 = 0.005[/tex]
So, we have:
[tex]V_1 = 0.00625[/tex]
[tex]V_2 = 0.005[/tex]
Notice that [tex]V_1 > V_2[/tex]
i.e. the initial value is greater than the new value
Hence, the value of dollar moves down
The change in value is:
[tex]\triangle V = |V_2 - V_1|[/tex]
[tex]\triangle V = |0.005 - 0.00625|[/tex]
[tex]\triangle V = |- 0.00125|[/tex]
Remove absolute sign
[tex]\triangle V = 0.00125[/tex]
The change in dollar value is 0.00125
William and Theodore have decided to start a travel business called Excellent Adventures. Since their business primarily involves time-travel their clients may be harmed during a small but significant portion of the travels. Consequently, William and Theodore would like a business form that will shield both of their personal wealth from any legal claims that the firm might be subject to after one of the travel mishaps. If William and Theodore are the only investors in this U.S. domiciled firm, which legal form of organization would be best for Excellent Adventures to protect both William and Theodore
Answer:
Hence the answer is a corporation.
Explanation:
William and Theodore have decided to start a travel business called Excellent Adventures. Since their business primarily involves time travel their clients may be harmed during a small but significant portion of the travels. Consequently, William and Theodore would like a business form that will shield both of their personal wealth from any legal claims that the firm might be subject to after one of the travel mishaps. If William and Theodore are the only investors in this U.S. domiciled firm, which legal form of organization would be best for Excellent Adventures to protect both William and Theodore as a corporation.
A corporation may be a large company or group of companies authorized to act as one entity and recognized intrinsically in law
The Sarbanes-Oxley Act: Group of answer choices protects American consumers from fraudulent foreign business practices. imposes penalties on foreign firms that try to bribe U.S. officials. requires that financial officers and CEOs personally certify the validity of their financial statements. prevents workplace discrimination based on age, gender, or race.
Answer:
requires that financial officers and CEOs personally certify the validity of their financial statements
Explanation:
David opened his own bicycle shop 30 years ago, and although he enjoyed his work, he needed more free time. When Josie requested to work as an apprentice, David was very willing. Before long Josie was able to run the store without any help. This is an example of how:
Answer:
This is an example of how an apprenticeship can benefit both the business owner and the apprentice.
Explanation:
Apprenticeship is the system or process of hiring someone to train him/her to learn the trade. This method is used in companies and other jobs to train new generations about the trade and also pass on the job.
David may have had the bicycle shop for three decades but now that he desired more free time, he had to pass on the work to someone who can take care of the shop in his place. The apprenticeship of Josie enabled him to have the desired free time while his shop still runs. This is an example of how apprenticeship is beneficial for both parties.
When the economy is severely
depressed, according to Keynesianism,
which of the following is being
underutilized?
A. Inflation
B. Imports
C. Tariffs
D. Capital resources (land & labor)
Answer:
D.
Capital resources (land and labour)
A county that did not previously have a property tax levies a property tax for $900,000 on January 1, 2020 for the budget year January 1 to December 31, 2020. The county collected $875,000 during 2020, $20,000 during January 1 through February 28, 2021, and the remaining $5,000 in June 2021. What adjustment is needed to the data reported in the governmental fund financial statements to prepare the government-wide statements
Answer: See explanation
Explanation:
The adjustment is needed to the data reported in the governmental fund financial statements to prepare the government-wide statements will be:
Deferred revenues—property taxes
5,000
Revenues—property taxes
5,000
Deferred revenue, in this case refers to the advance payments that a company receives for the goods that are to be delivered in the future.
