Introduction to Financial Accounting 1. A _____ year ends on a date that is determined by the firm‚ perhaps based on its business model (for example‚ many retailers choose the end of January). physical natural fiscal business cycle Normal ANS: C 2. An income statement connects two successive _____ through its effect on retained earnings. a. balance sheets b. cash flow statements c. cash receipts and disbursement statements d. funds flow statements e. financing statements
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of a real-world process or system over time. Whether done by hand or on a computer‚ simulation involves the generation of an artificial history of a system‚ and the observation of that artificial history to draw inferences concerning the operating characteristics of the real system. The behavior of a system as it evolves over time is studied by developing a simulation model. This model usually takes the form of a set of assumptions concerning the operation of the system. These assumptions are expressed
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the likelihood of expropriation is remote‚ a loss contingency should be A. Disclosed but not accrued as a liability. B. Disclosed and accrued as a liability. C. Accrued as liability but not disclosed. D. Neither accrued as a liability nor disclosed. 2. When a material gain contingency is probable and the amount of gain can be reasonably estimated‚ the gain should be: A. Reported in the income statement and disclosed B. Offset against shareholders’ equity. C. Disclosed‚ but not recognized in the income
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develop a strong emotional bond with his followers. The vision that he wanted to get across to his followers in his first election was “change” (2)‚ President Obama was so passionate with his vision for where he wanted the country to be in four years that it was hard not to follow him on his path. Whereas in this election it wasn ’t so much about “change” (2) but giving him another four years to make all those promises about the economy come true (3). President Obama is so passionate about what he
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CST 170-Ch 2 Lab Assignment Name:___________________________ Exercises 1. Explain why each of the following names does or does not seem like a good variable name to you. a. c – b. cost – c. costAmount – d. cost amount – e. cstofdngbsns – f. costOfDoingBusinessThisFiscalYear – g. costYear2012 – h. 2012YearCost – 2. Assume that cost = 10 and price = 12. What is the value of each of the following expressions? a.
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ITE Chapter 12 - IT Essentials (Version 5.0) 1. A technician arrives and asks a customer‚ "Can you describe the problem?" The customer replies‚ "All email messages that I send have the wrong date. I have restarted the computer several times‚ but this does not seem to help." What could be the problem? The CMOS battery has failed. 2. A customer using a Windows XP computer is complaining that a new card reader is not working. A technician tests the card reader on a Windows 7 computer and does
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Tasks: 1. identify how computers enabled the situation/person 2. In foresight‚ were the proper controls in place 3. in hindsight‚ what should have happened or could have been done to stop the situation 4. If there were proper or sufficient controls‚ what went wrong? Paramalat: Summary: “In December 2003‚ Italian prosecutors launched an investigation into suspected fraud at global food group Parmalat after it revealed a gaping hole in its accounts. The company‚ known around the world
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Accounting Information Systems Simulation Summary Internal Control Systems are processes put in place to safeguard the company. In the simulation‚ the task was given to help a new company set up an internal control system‚ implement control procedures for specific internal control issues‚ and manage the internal control system as the company continues to grow. Ramos International is an up and coming luxury hotel in Chesapeake‚ Virginia. The role given in this simulation is that of the Chief
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Service and Mechanical Turk.[2] These services are aimed at helping other companies to succeed. Amazon has moved away from its original core competency as an online book seller and has become a technology firm.[3] Further evidence of this is found in Amazon’s launch of the Amazon Kindle‚ an electronic reader developed by the Amazon.com subsidiary Lab126. This places Amazon squarely in the hardware and software development business‚ a further diversification of its interests. 2. Amazon is competing with
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NSS Exploring Economics 6 Chapter 12 International trade (II) — trade barriers and external trade of Hong Kong Questions p.150 Think it over 1. Why do many governments impose duties on imported goods? 2. What are the effects of the imposition of duties on the price of imported goods‚ the volume of imports‚ the consumer surplus of domestic consumers and the producer surplus of domestic producers? 3. Why does the Hong Kong Government impose duties on very few types of imports? p
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