How does accounting help in the capital allocation process? If a company’s financial performance is measured accurately‚ fairly‚ and on a timely basis‚ the right managers and companies are able to attract investment capital. To provide unreliable and irrelevant information leads to poor capital allocation which adversely affects the securities market. What is the objective of financial reporting? The objective of general purpose financial reporting is to provide financial information about the
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CHAPTER 3 The Accounting Cycle QUESTIONS Q3-1. Much more judgement is required for accrual accounting than for cash accounting because there is greater uncertainty at the time events are recorded in the accounting system. There is no uncertainty around the point in time when the cash is paid or collected. Accrual accounting records economic events‚ not cash flows. When an economic event occurs can be ambiguous. It’s less certain when revenue has been earned than when cash is received. It
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Jazzlynn Ben Chapter 5 Problems Dr. Ennis 5.1. You were asked to investigate extremely high‚ unexplained merchandise shortages at a department store chain. You found the following: a. The receiving department supervisor owns and operates a boutique carrying many of the same labels as the chain store. The general manager is unaware of the ownership interest. -- It is a red flag warning so it is a fraud because there is a conflict of interest situation which should have alerted the auditor
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Home work- Chapter 7: 1. Fertility factors are a. Plasmids that contains genes for antibiotic resistance b. Plasmids that contains genes for pathogenicity c. Plasmids that contains genes for F factor d. All of the above 2. Promoter is a site where‚ a. DNA polymerase binds b. Repressor binds c. RNA polymerase binds d. Inducer binds 3. _______________ enzyme forms RNA based on the information carried on DNA strand. a. DNA polymerase b. RNA polymerase c. DNA helicase d. A & C 4. Operator
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CHAPTER 3 Product Costing and Cost Accumulation in a Batch Production Environment ANSWERS TO REVIEW QUESTIONS 3-1 (a) Use in financial accounting: In financial accounting‚ product costs are needed to determine the value of inventory on the balance sheet and to compute the cost-of-goods-sold expense on the income statement. b) Use in managerial accounting: In managerial accounting‚ product costs are needed for planning‚ for cost control‚ and for decision making. c) Use in cost
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of Reaction 1. Glucose + glucose → glycogen Anabolic Catabolic 2. AB → A + B Anabolic Catabolic 3. Glycerol + fatty acids → lipids Anabolic Catabolic 4. Glycolysis Anabolic Catabolic 5. Glucose
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Chapter 6 1. Why are people willing to take the risks of entrepreneurship? People are willing to take the risks of entrepreneurship because it allows them freedoms and many opportunities that they feel are worth the risks involved. Many are finding that the corporate world is just as risk involved these days as owning their own business‚ since it is becoming more and more common to see hard working and long term employees being fired when times got hard. 2. What are the advantages of entrepreneurial
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ANSWER to HOMEWORK OF CHAPTER TWO ITM 4273 True-False Questions 1. () To determine how real decision makers make decisions‚ we must first understand the process and the important issues of decision making. 2. () An important characteristic of management support systems is their emphasis on the computational efficiency of obtaining a decision‚ rather than on the effectiveness of the decision produced. 3. () A major characteristic of a decision support system is the inclusion of at least one model
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atoms. B. there are more iron atoms than lead atoms. C. there are more lead atoms than iron atoms. D. it is not possible to tell which sample contains more atoms. E. the lead is heavier than the iron‚ and therefore there would be more atoms. 3 The correct symbol for the ion formed by nitrogen is: A. N2- B. N3- C. N3+ D. N2+ E. N- 4 Which of the following combinations of formula and name is incorrect? A. hydroxide ion = OH ̅ B. nitrate ion = NO3 ̅ C. sulfide ion = SO32 ̅ D. nitrite
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Chapter 8 Costs and the Supply of Goods Questions 1 through 10 are a Suggested Chapter Quiz. 1. Which of the following is most likely to be an implicit cost of production? a. property taxes on a building owned by the firm b. transportation costs paid to a trucking supplier c. rental payments for a building utilized by the company and rented from another party d. interest income foregone on funds invested in the firm by the owners 2. Which of the following explains most clearly why business
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