When taking a physical inventory, the company inadvertently counted its inventory as $34,000 instead of the correct amount of $43,000. Indicate the effect of the misstatement on the balance sheet of the current year. a. Stockholders' equity is overstated by $9,000. b. Assets are overstated by $9,000. c. Liabilities are overstated by $9,000. d. Assets are understated by $9,000.

Suppose that a paving company produces paved parking spaces (q) using a fixed quantity of land (t) and variable quantities of cement (c) and labor (l). the firm is currently paving 1,000 parking spaces. the firm's cost of cement is $3 comma 600.003,600.00 per acre covered (c) and its cost of labor is $35.0035.00/hour (w). for the quantities of c and l that the firm has chosen, mp subscript upper c baseline equals 60mpc=60 and mp subscript upper l baseline equals 7mpl=7. is this firm minimizing its cost of producing parking spaces?