(D) Bonds payable. Liability (E) Amount earned from selling a product. Revenue (F) Cost of advertising. Expense Part 2 Ex 1-8 (A) An expression about whether financial statements conform with generally accepted accounting principles. – 8 Auditors opinion (B) A business that raised money by issuing shares of stock. – 1 Cooperation (C) The portion of stockholders’ equity that results from receiving cash from investors. – 6 Common Stock. (D) Obligations to suppliers of goods. – 7 Accounts
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Nature of Accounting and the Accounting Standard Background Accounting is an important part for business and it is dubbed “language” of business activities conducted by firms. People think it is used to communicate business transactions per se to all stakeholders. However‚ some people argue that the functions of accounting are not that easy. Except the communication tool‚ accounting acts as many other difference roles in business. When doing accounting‚ different standard may be used. There are
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CHAPTER 2 21. Generally accepted accounting principles a. are fundamental truths or axioms that can be derived from laws of nature. b. derive their authority from legal court proceedings. c. derive their credibility and authority from general recognition and acceptance by the accounting profession. d. have been specified in detail in the FASB conceptual framework. 22. A soundly developed conceptual framework of concepts and objectives should a. increase financial statement users’
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of the times‚ people find it difficult to understand the various accounting Concepts. In this coursework‚ I shall analyze these concepts and explain them. First of all I shall discuss the materiality concept. WHAT IS MATERIALITY? Authoritative accounting bodies in the USA such as Financial Accounting Standard Board (FASB)‚ Securities and Exchange Commission (SEC)‚ General Accounting Office (GAO)‚ American Institute of Certified Public Accountants
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Chapter 1 Question 1-18 Consumers Union is a nonprofit organization that provides information and counsel on consumer goods and services. A major part of its function is testing of different brands of consumer products that are purchased on the open market and then the reporting of results of the tests in Consumer Reports‚ a monthly publication. Examples of the types of products it tests are middle-sized automobiles‚ residential dehumidifiers‚ flat-screen TVs‚ and boys’ jeans. a.) In what ways
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“Poor governance leads to‚ and encourages and breeds‚ corruption in a number of ways‚ for instance through bribery and extortion‚ nepotism and fraud and embezzlement‚ It reduces the efficiency on which an economy depends‚ and by increasing the cost of investment‚ lowers the potential return. It also reduces the government’s resources and hence its capacity for investment. Common to other South Asian countries‚ corruption in Pakistan is unique because it occurs up stream‚ it has wings which
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Throughout the story the narrator writes about the wallpaper as being a grotesque yellow and she wishes to be moved to another room‚ but as she keeps writing her feelings change about the wallpaper it starts to grow on her. When she first arrives at the mansion and enters her the nursery she describes the wallpaper as being "almost revolting; a smouldering unclean yellow‚ strangely faded by the slow-turning sunlight‚" which illustrates she despises it and makes the assumption that the children before
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The mass of Gliese 581 is 30 percent of the mass of the sun. Luminosity means how bright something is‚ and the luminosity of Gliese 581 is .2 percent of the Sun’s luminosity. From this information‚ we know that Gliese 581 is a very dim star! There are three confirmed and two other possible planets that orbit Gliese 581. Each of these five planets are close to the star and have a circular orbit. The planets orbiting Gliese 581 were named in the order they were discovered and are named Gliese e‚ Gliese
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Porter’s Generic Strategies Porter’s notion on “stuck in the middle” or “hole in the wall” is debatable‚ it being mutually exclusive. It might be true in some cases but not all the time. Even beyond Porter’s generic strategies‚ Toyota has been operating and already proven that it’s possible to be a low cost producer of a differentiated product. It was able to achieve leadership in North America‚ surpassing General Motors. They continuously find ways to reduce production costs and at the same optimize
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Argumentative essay Auggie and his family have been through many tough decisions in life. And even though there are more negatives than positives in school ‚ and daily life . They will get through it by getting back up even stronger . “how could you live with face like that “ those are the kind of comments auggie gets on the daily. Because of this comment it makes it harder for him to go out or to school until ‚ his mother decided that he should go to school even though most of his life
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