Chapter 3 FIGHTING FRAUD: AN OVERVIEW Discussion Questions 1. Fraud prevention is important because it is the most cost-effective way to reduce losses from fraud. Once fraud occurs‚ there are no winners. 2. Creating a culture of honesty and high ethics helps to reduce fraud in various ways. Management through its own actions can show that dishonest‚ questionable‚ or unethical behavior will not be tolerated. By hiring the right kind of employees‚ management can select people who are
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CHAPTER II SYSTEM ANALYSIS 2.1 Data Flow Diagram It is the pictorial representation of the logical inter-relationship between the data and the process. It can be define as pictorial representation of logical inter-relationship between the procedures‚ input‚ output and their data stores. It also shows the flow of data from external entities into the system‚ showed how the data moved from one process to another‚ as well as its logical storage. . There are only four symbols: 1. Squares
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Chapter Summary Which features of organizations do managers need to know about to develop and use information systems successfully? What is the impact of information systems on organizations? All modern organizations are hierarchical‚ specialized‚ and impartial‚ using explicit routines to maximize efficiency. All organizations have their own cultures and politics arising from differences in interest groups‚ and they are affected by their surrounding environment. Organizations differ in goals‚ groups
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Answers to Chapter 3 Exercises 3.1. DRAM factory. You own and operate a facility located in Taiwan that manufactures 64-megabit dynamic random-access memory chips (DRAMs) for personal computers (PCs). One year ago you acquired the land for this facility for $2 million‚ and used $3 million of your own money to finance the plant and equipment needed for DRAM manufacturing. Your facility has a maximum capacity of 10 million chips per year. Your cost of funds is 10% per year for either borrowing
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Difficulty: Easy Learning Objective: 1-3 2. General partners have limited personal liability for business debts in a limited partnership. FALSE AACSB: Communication Abilities Bloom’s: Knowledge Difficulty: Medium Learning Objective: 1-3 3. The separation of ownership and management is one distinctive feature of corporations. TRUE AACSB: Reflective Thinking Skills Bloom’s: Understanding Difficulty: Easy Learning Objective: 1-3 4. A major disadvantage of partnerships
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ACC-100 Chapter 3 External event: involves interactions between the entity and its environment. * Example: the payment of wages to an employee is an external event‚ hiring of a sales manager Internal event: occurs entirely within the entity. * The use of a piece of equipment Transaction: any event that is recognized in a set of financial statements (if an event is measurable and realized‚ then it is a transaction) * Typically include: * An external event that involves exchange
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Chapter 3 Questions 18 September 2013 5. In the 1911 case Flint v. Stone Tray Co. the court held that corporate income tax (which was passed in a law in 1909) was constitutional because it was a special form of excise tax on the privilege of operating in the corporate form‚ using income as its base‚ rather than a direct income tax. 9. A tax treaty is an agreement negotiated between countries concerning the treatment of entities subject to tax in both countries. The main purpose of these treaties
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Chapter 3 WHAP DQ 1. Historians have called Assyrian Empire of the first millennium B.C.E. the first two empire because the Assyrian Empire in previous empires such as Saragon’s Akkadsan state‚ Hammurabi’s Babylon‚ and new kingdom Egypt‚ control of those areas and territories guaranteed them access to vital resources such as iron and silver as well as promised taxes and tribute. They also had many city states in the kingdoms were ruled by administrators. Political. 2. The Assyrians were able to
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chapter 3 Exe# 6 In question direct labor hours is not given‚ we can find D.Labor hours through this formula Direct labor cost = 40000 = 6250 Hours Per D.Labor hours rate 6.40 1) Prime Cost (2) Conversion Cost Material opening 24000 Direct labor 40000 + purchase 56000 FOH Applied Material available for use 80000 6250 Hours@ 8 50000 - Material ending (20000) Conversion cost 90000 Material used 60000 + Direct labor 40000 Prime Cost 100000
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Auditing Chapter 2 and 3 Chapter MC 2 2.26 - 2.29 Q 65‚ 70(I) 2.26) Which of the following categories of principles is most closely related to gathering audit evidence? A. Performance 2.27) Which of the following is not related to ethical requirements of auditors? D. professional judgment 2.28) One of an accounting firm’s basic objectives is to provide professional services that conform to professional standards. Reasonable assurance of the achieving this objective can be obtained by the
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