Accounting 221 Exam 1 -- Fall 2003 Multiple Choice (10 points). Select the correct answer for each of the following multiple choice questions. 1. Assets may best be defined as: a. Economic resources invested by the owners of a business. b. Tangible economic resources of value. c. Economic resources invested by the creditors of a business. d. Probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events. e. Probable future economic
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How could the ENRON scandal been avoided? The Enron scandal could have been avoided had they had an organizational culture of honesty‚ integrity and ethics 1. There should have been stronger management and better ethical oversight. Even employees should have had a sense of the expected ethical values and try to maintain a strong sense of organizational culture. 2. There should have been measures in place to oversee the activities of accounting firms (Arthur Andersen)‚ as they acted as both Enron’s
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Could the American Revolutionary war have been avoided? The American Revolutionary war is a war that changed the American history because America was able to gain freedom from England. When looking at this war after many years and analyzing all the conflicts that lead to it‚ it can be concluded that the war could have been avoided. There are several reasons that ignited the war such as the refusal of the Olive Branch Petition by King George III‚ the Pamphlet‚ Common Sense‚ published by Thomas Paine
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1-case‚ company‚ issues 1-2-case the case tell the situation of two german companies who supplied the US automobile company DaimlerChrisler one made loss‚ the other mad profits 1-2-companies - German company SMS Elotherm dealing with the US company DaimlerChrysler german company Keiper dealing also with DaimlerChrisler 1-3-issues : FOREIGN RISK EXCHANGE One of these 2 companies has managed to have a successful business‚ the other one experienced dramatic loss : issue is the exchange
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topic‚ and is highly discussed and researched by scholars and the general public. The nuclear bombings are not just a small part in military history‚ but a lesson in reality and the destruction possible of man to achieve their goals; these bombings have raised a whole host of ethical issues and concerns‚ which must be taken into consideration. There are many reasons why the actions taken by the United States and specifically President Truman to drop the A-Bomb on Hiroshima were absolutely unnecessary
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According to‚ "This Apple Could Have Been Saved‚" by Kristen Lewis‚ with reporting by Adee Braun‚ and "How To Reduce Your Food Waste‚" many different types of food in America are wasted every day‚ but there are ways to reduce the waste. Some people have been aware of how much food is being wasted each day‚ but this situation is growing out of control and needs to be put to an end. The first way that food gets wasted‚ is that many American’s are just lazy and buy too much food that we aren’t even
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625‚000 people died and a lot more were injured. (Ron Paul Video)Could the Civil War Have Been Avoided? The civil war could not have been avoided for two main reasons; the sectional tension‚ and the election of abraham lincoln. The civil war was a battle over slavery. First of all‚ The civil war could not have been avoided because the sectional tension. On september 18 north carolina decided to leave the union so they could have slaves.(How the civil war got its start video) After they did that
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Could the Nazi takeover of the German state and national consolidation of power have been prevented? Who could have prevented it‚ and what would they have needed to do? If a Nazi dictatorship could have been prevented‚ what was the most likely alternative outcome? The rise in power of Hitler in January 30‚ 1933 did not come through a revolutionary way‚ but through lies and manipulations that eventually secured Hitler his election in a political office. Having already attempted to take
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The dollar value LIFO method is another approach used for inventory valuation‚ it follows the last in first out but take into consideration the impact of inflation. The dollar value LIFO method is derived from the LIFO method and it’s designed to overcome the main problem of LIFO method which is liquidation. The dollar value LIFO method groups all type of goods in the inventory in a pool and the pool is measured by the total dollar amount instead of physical quantity. The balance sheet view differ
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How the value of dollar is vaporized Throughout the history of currency‚ the true value of money has always been changing. Even today‚ the value of dollar is changing every day. It is hard to define the value of money‚ for economists‚ they may use gold/silver standard to value money; but in order to be closer to everyday life‚ I will use “milk” as a rule for measuring the purchasing power of money. Milk as an agricultural product‚ its production does not affect by the improvement of technology
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