I think that we should have laws because without laws there would be a lot of chaos going around and everything would go off hand. There would be a lot of murders going around and most might be the innocent people being killed. It would not really be fair on them and the murderer would need to be punished for this or whoever was part of the crime. I also think that people would not have peace if there were no laws because there would perhaps be a lot of riots and wars going around. People may also
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all others are incorrecta: incorporating provides owners limited liabilityb: sole proprietorship has less regulation than corporationc: In limited partnerships certain partners can be designated general partners and others limited partners with differences in control and liabilityd. sole proprietorships and partnerships are taxed just once at owner level (pass-through of income to owners) whereas corporation earnings can be double or triple taxed depending on individual or corporate ownership of
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EBC4074 Financial Accounting Consolidation Wholly owned subsidiaries & Intragroup transactions Seminar 1 - Réka Felleg School of Business and Economics Sharing Success Agenda • • • • Key steps Problem 22.4 Break (?) Problem 23.3 Seminar 1 - Wholly owned subsidiaries & Intragroup transactions Slide 2 Key steps • Acquisition analysis – Identify an/the acquirer – Determine the acquisition date – Recognize and measure FV of identifiable assets acquired‚ liabilities assumed
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1. Which of the following would be considered a product cost for external financial reporting purposes? a. Cost of a warehouse used to store finished goods. b. Cost of guided public tours through the company’s facilities. c. Cost of travel necessary to sell the manufactured product. d. Cost of sand spread on the factory floor to absorb oil from manufacturing machines. 1. Which of the following would be considered a product cost for external financial reporting purposes? a. Cost
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Financial information should possess a number of qualitative characteristics in order to meet the needs of users of financial statements. There are‚ however‚ a number of issues that surround the qualitative characteristics of financial information. The threshold quality of materiality is not easy to define and can be misunderstood. Similarly‚ the concept of prudence is not clear-cut and can conflict with neutrality. In addition‚ relevance and reliability can be conflicting targets and a trade-off
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answers the question. 1) If the marginal benefit of pizza exceeds the marginal cost of pizza‚ then compared to the allocatively efficient quantity‚ we are producing too ________ pizza and too ________ of other goods. A) little; much B) little; little C) much; little 1) D) much; much Answer: A 2) ________ is the difference between the value of a good and the price paid for it summed over the quantity bought. A) Consumer surplus B) Shortage C) Surplus 2) D) Producer
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hedge accounting under U.S. GAAP? a. If a derivative qualifies as a cash flow hedge‚ a company may choose to account for it as a fair value hedge. 2. When a currency is allowed to increase or decrease in value relative to other currencies‚ the currency is said to: a. Float 3. What has occurred when one company purchases the right to buy a foreign currency some time in the future at an exchange rate quoted today? a. the company has acquired a call option. 4. Under U.S. GAAP‚ what method
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BSAD 526 Managerial Accounting Case 8-35 Introduction Wyndham Stores operates a regional chain of upscale department stores. They plan to open another store in a prosperous and growing suburban area. The company’s Vice President of Marketing is in favor of buying the new building site and building a new building on the property. The projected cost for the new building is $14 million‚ according to the vice president of marketing. The problem with the vice president’s
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| 600‚000 | |Total General Fund Appropriations |$7‚100‚000 | 1) Explain the legal significance of an appropriation and why auditors engaged for a financial and compliance audit need to know the meaning of the term. An appropriation is an authorization for administrators to incur on behalf of the governmental unit liabilities in the amounts specified in the appropriation ordinance or statute‚ for
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Americans‚ our views on healthcare are based on specific sets of narrow experiences. We might complain about long emergency wait times‚ lack of service to those without money‚ greedy insurance companies‚ and depending on our political allegiances‚ the massive healthcare overhaul that is currently taking place under the Obama administration. Despite the fact that most of us will end up practicing in that system‚ it is often instructive to take a step back and look at the healthcare systems of other nations
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