CHAPTER 1 QUIZ 1. The term globalism or globalization generally refers to _____. a. increasing loyalty to your own country b. global competition characterized by networks that bind countries‚ institutions‚ and people. c. competition in an increasingly borderless world d. b and c only 2. The hostility to the takeover of Europe’s largest steel company‚ Acelor‚ by India’s Mittal Steel illustrates a. the decrease in nationalism and increase in globalism. b. the backlash against globalism.
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COURSE ACCOUNTING IA CODE CAC 1107 AIM The purpose of the course is to provide an understanding of the basic concepts and techniques of accounting and their application to business management. The course covers the accounting cycle and assumes no prior knowledge of accounting. The course is intended for those who will use accounting information as managers rather than those who will prepare it as accountants. In appreciation of the question of the semantic value of accounting information
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COMPREHENSIVE ILLUSTRATION QUESTION 1 ABC Bhd uses material X which obtain from an outside supplier. Each delivery of material X consists of 30‚000 kg at a cost of RM5 per kg. The cost of ordering is RM10 per order. The lead time for delivery can vary between 12 and 18 days and the rate of usage of material X also varies between 320 and 480 kg per day. Stockholding cost amount to 9% per annum of the average stockholding value. Required: Calculate the following: |Re-order level in kg
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Chapter 3 Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than
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REVIEW FOR EXAM 1 Chapter 1 1. How do we measure standard of living Measuring the standard of living in a country is to use real national income per capita. This is found that dividing real national income (GDP or GNP) by the total population. 2. How can European Unemployment be reduced? Central bank should decrease interest rates‚ and allow for an increase in demand‚ and unemployment would decrease. They need to be less protective‚ to eliminate these labor market rigidities‚ and to
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ledger a.a chronological record of all transactionsb.the balance of each account in the chart of accountsc.budget records for each account in the chart of accountsd.subsidiary details supporting a control account 2. Which steps in the Financial Accounting Process are in the correct sequence based on closing the accounts and determining timing differences prior to issuing financial statements a.record the transaction‚ post to the ledger‚ prepare the adjusted trial balance‚ enter adjusting entries
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Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? ANS. Meaning of Accounting- The systematic and comprehensive recording of financial transactions pertaining to a business. Accounting also refers to the process of summarizing‚ analyzing and reporting these transactions. The financial statements
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To: Carminho Building Products Ltd From: Rodrigues Accounting Dear Sir/Madam‚ We are submitting herewith our report entitled UK Subsidiary Expansion. The main purpose of this report is to help Carminho Building Products Ltd decide the potential and suitable site for the formation of a public listed subsidiary. This report will include United Kingdom’s current financial reporting environment and other information that Carminho Building Products Ltd would need in order to make a sound decision
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Grade 10 Electricity I Q t I = current Q = net charge flowing t = time 1A 1C 1s Unit: Q = Coulomb (C) I = Ampere (A) t = Second (s) Potential difference Work done to move a unit charge from one point to another V W Q Unit Volt 1 Volt 1 joule 1 coulomb 1V 1J C 1 Ohm’s law Current potential difference V I V = IR (R = resistance) Unit (R) 1 1V 1A (Ohm) Factors on which resistance depends 1. 2. R R l‚ when A and material constant l = length A‚ when l and material constant
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The basic principles of an accounting information system include all of the following except | | | Student Answer: | | cost effectiveness. (Cost effectiveness is one of the basic principles of accounting information systems.) | | | | flexibility. (Flexibility is one of the basic principles of accounting information systems.) | | | | useful output. (Useful output is one of the basic principles of accounting information systems.) | | | | periodicity. (Correct! Periodicity
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