1. award: 0 out of 0.00 points On June 1‚ Cline Co. paid $892‚000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying values for Renn’s assets and liabilities on June 1 follow: Cash $ 178‚000 Accounts receivable 237‚000 Capitalized software costs 374‚000 Goodwill 110‚000 Liabilities (201‚000 ) Net assets $ 698‚000 Note: Parentheses indicate a credit balance. On June 1‚ Renn’s accounts receivable had a fair value of $155
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Study Guide Chapter 5 1. “More than a toleration of an alien culture is required…there is need for affirmative acceptance as different but equal.” Elaborate. This statement refers to cultural adaptation. It is important for different cultures to meet in the middle and not lose what makes their culture unique. There are three aspects to adaptation. These are‚ cultural imperatives‚ cultural electives‚ and cultural exclusives. Imperatives are aspects of business that all cultures come
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ACC 403 Week 4 quiz 3 Question 1 If an auditor fails to fulfill a certain requirement in the contract‚ they may be guilty of: Answer Selected Answer: breach of contract. Correct Answer: breach of contract. Question 2 The assessment against a defendant of that portion of the damage caused by the defendant’s negligence is called: Answer Selected Answer: separate and proportionate liability. Correct Answer: separate and proportionate liability. Question 3
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ACCT 421A: CORPORATE TAX : Chapter Sixteen DISCUSSION QUESTIONS 5. How are farmers treated differently from other producers in regard to tax accounting? Since farmers are usually allowed to use the cash method of accounting‚ the UNICAP rules do not apply to farmers‚ except in the case of plants with a reproduction period of more than two years. The farmer can elect to use the farm price method of the unit-livestock-price-method. A farmer may also elect to average the income from farming
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ACCT3563 Issues in Financial Reporting & Analysis Semester 1 – 2010 Version 0.5.0 1st April 2010 Contents Page 3 Page 7 Page 12 Page 17 Page 20 Positive Accounting Theory Ethics in Accounting Accounting for Physical Assets & Intangible Assets Accounting for Assets in Mining & Agricultural Industries ounting Accounting for Provisions Copyright © Ka Hei Yeh 2010 Fifth Revision published April 2010 2010. This work is licensed under the Creative Commons Attribution Attribution-Non-CommercialNo
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Question 4: Data integrity is essential for a company ’s operations. Describe various steps companies can use to ensure the integrity of its information. Just as the question states‚ data integrity is imperative to the success of a company’s operations. Data integrity is processing integrity which is one the five principles of systems reliability (Romney‚ & Steinbart‚ 2012‚ p. 274). For a company to be successful they must have a reliable system that is accurate‚ easily manipulated‚ timely‚
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Name: _____________________________________ Date: _________________ Third Midterm -- Chapters 8‚ 9‚ 10 & 11 100 points Key Section Possible Points True/False Multiple Choice Problems Total 25 24 55 104 Your Score Your Points ___________ Be legible!!!! (If I can’t read what you put down‚ I can’t grade it and I will not guess at what you might have written.) Mark the True/False answers in the appropriate column!! Put the letter answer to the Multiple
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CA1-1 1. True. 2. False. Any company claiming compliance with IFRS must comply with all standards and interpretations‚ including disclosure requirements. 3. False. The SEC is the governmental body that has influence over the FASB‚ not the IASB. 4. True. 5. False. The IASB has no government mandate and does follow a due process in issuing IFRS. CA1-3 CA1-3 (Financial Reporting and Accounting Standards) Answer the following multiple-choice questions. 1. GAAP stands for: ANS: D) generally
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1. Two primary external users of accounting information are investors and creditors. TRUE 2. The economic resources that are owned by a business are called stockholders’ equity. FALSE 3. Net income for the period is determined by subtracting total expenses and dividends from revenues. FALSE 4. The heading for the income statement might include the line “As of December 31‚ 20xx.” TRUE 5. Net income is another term for revenue. FALSE 6. The primary purpose of the statement of cash
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1. If you have a disagreement with your supervisor at work. First‚ I will start a calm‚ non-aggressive conversation with my supervisor. Then‚ I will give her a chance to state her opinions so she will‚ in return‚ listen to my ideas and why I disagree with her. That way‚ we’ll have a mutual understanding of what each of us had in mind thus it will be possible to negotiate a deal. 2. If your class paper or project receives a failing grade from your professor. I would simply talk to
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