Chapter 7 Reporting and Interpreting Cost of Goods Sold and Inventory ANSWERS TO QUESTIONS 1. Inventory often is one of the largest amounts listed under assets on the balance sheet which means that it represents a significant amount of the resources available to the business. The inventory may be excessive in amount‚ which is a needless waste of resources; alternatively it may be too low‚ which may result in lost sales. Therefore‚ for internal users inventory control is very important
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and by doing this it leads the CPA’s down a road to making unethical decisions. Gerard works for Trawlers Accounting and has for several years‚ but pressures from his wife’s high-risk pregnancy and changes in the accounting industry have placed him in a difficult situation. Financial‚ emotional‚ and organizational pressures to which Gerard is exposed are issues. The issue of accounting firms going into the financial services industry has become prevalent. We saw such conflicts of interest arise
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In Chapter 7‚ Frederick Douglass stars off by telling us that he lived in Master Hugh’s family for about seven years. He had learned to read and write during this time‚ but it was not easy. There were some diversion from his teaching‚ like his mistress who was the only source for him to read and write was in compliance to her husband to not teach her slave anything. She was a kind and tender hearted woman who had lost her way when given the power of a slave holder. She became cruel and her heart
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CHAPTER 7 - FOUNDATIONS OF GROUP BEHAVIOR CHAPTER OBJECTIVES After reading this chapter‚ students should be able to: 1. Differentiate between formal and informal groups. 2. Explain why people join groups. 3. Describe how role requirements change in different situations. 4. Explain the importance of the Hawthorne studies. 5. Describe the importance of the Asch studies. 6. Explain what determines status. 7. Identify the implications of social loafing. 8. Outline the benefits and disadvantages of cohesive
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Chapter 1 Managerial Accounting‚ the Business Organization‚ and Professional Ethics Management accounting produces information for managers within an organization. Financial accounting produces information for external parties‚ such as stockholders‚ suppliers‚ banks‚ and government regulatory agencies. What kind of accounting information do managers need to achieve their goals and objectives? Good accounting information helps answer three types of questions: 1. Scorecard questions 2. Attention-directing
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Reflection: SS Chapters 6 & 7 I believe that there is much that we take for granted in our world today. One of these things we take for granted in the instant “treatment” for plants. We do so without even a second thought or consideration and continue to let it happen year after year. We also take for granted our everyday dependencies that stem from nature. I then question what it would take for us to realize our dependency on nature and to respect it as such. On page 73 of the reading‚ it discusses
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Chapter 7 * Encoding-entering/getting information into your memory; forming a memory code * Storage- saving information into your memory over time * Retrieval- being able to recall information from memory * Tip- of-the-tongue phenomenon- when you know certain information but have difficulty being able to recall it. * Attention- focusing your awareness to certain thing * Structural encoding- emphasizes the physical structures of a stimulus * Phonemic encoding- emphasizes
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CHAPTER 1 Scope and Meaning of Accounting Introduction Need and Role of Accounting Meaning of Book -keeping and Accountancy Book-keeping Accounting — Science or Art Definition and Explanation of Accounting Users of Accounting Scope/Branches of Accounting z Financial Accounting z Cost Accounting z Management Accounting Systems of Accounting Objectives/Advantages of Accounting Limitations Terminology often used — Some Basic TTerms erms Check Y our
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History: More Than 85 Years of Philippine Partnership Caltex gained its foothold in the Philippines in 1917 when Texas Company (as Texaco was then known) began marketing the products in the Philippines through a local distributor‚ Wise and Co. Four years later‚ Texaco (Philippines) was formally established and opened its office in Binondo‚ Manila. Eleven years later‚ its Pandacan warehouse depot was converted into a key distribution terminal to bring products by barge to nearby provinces. By 1936
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Chapter 7 same number of valence electrons=behave similarly(chemical properties) ▪ neon gases (neon‚ argon) unreactive in chemical reactions(stable) ▪ Gilbert Lewis-octet rule(atoms tend to achieve electron configuration of gas) ▪ atoms of metallic atoms lose electrons‚ atoms of nonmetal atoms lose or share electrons with another nonmetal elements to achieve a complete octet ▪ to achieve octet‚ change electrons to ge ns2 np6 configuration ▪ remove electrons=ionization ▪ metals in group
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