f’;fa;d’a;f’‚af;ag’;sdagl.;gdlal‚g;adl‚g‚gal;am‚dblv .cv z‚vz mld;‚ag‚a;es’g.;’gad;a’;ldg;gd;sal;‚ger’fa‚s.a;l‚gdlag‚dla‚g;ewlwetp;lq4pewql‚e;et‚q;g‚al‚gal;g‚dla;ew‚tqleg‚algm‚eksgtmaq;‚;’.E’S.AFD;Af?D/A>;T’‚;L‚EL;On January 1‚ 2010‚ Ameen Company purchased a building for $36 million. Ameen uses straight-line depreciation for financial statement reporting and MACRS for income tax reporting. At December 31‚ 2012‚ the carrying value of the building was $30 million and its tax basis was $20 million
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Case 2-1 Maynard Company (A) 2013 1 Diane Maynard made the following request of a friend: My bookkeeper has quit‚ and I need to see the balance sheets of my company. He has left behind a book with the numbers already entered in it. Would you be willing to prepare balance sheets for me? Also‚ any comments you care to make about the numbers would be appreciated. The Cash account is healthy‚ which is a good sign‚ and he told me that the Net income for the month of June was $19‚635. The book
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managers and in income tax returns. | | | | C. | Called "special-purpose" accounting information. | | | | D. | Not applicable to individuals. | | | | | Score: | 2/2 | | | 2. | ch01003 | | Generally accepted accounting principles: | | | Student Response | Value | Correct Answer | Feedback | A. | Are based on official decrees only. | | | | B. | Are based on tradition only. | | | | C. | Are based on an accountant’s experience only. | | | | D. | May
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ACCY111 / SAMPLE TEST PAPER Q & A MULTIPLE CHOICE QUESTIONS (Answers are on page no 16 onwards) Q. What is the primary objective of most businesses? a. To maximize profits b. To pay dividends to stockholders c. To provide a benefit to society d. To manufacture a quality product ANS: Q. When a business borrows money‚ it incurs a(n) a. tax. b. liability. c. receivable. d. addtional equity. ANS: Q. When a product is sold‚ this cost is often called a. cost of goods sold. b. revenue. c. products. d.
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Alpha Corporation hires a subject matter expert at a salary of Rs 5‚000 per month including benefits. The subject matter expert is non-billable and is expected to help engineers with resolving their technical queries as well as assist them in development of new technology. The subject matter expert was hired on 1st of February and today is 1st of March of the same year. You have just paid him his salary. What accounts will this transaction impact? Answer : Engineers cash account increases and
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IFRS for U.S. Timber Industry INTRODUCTION This memorandum will address issues raised by the transformation from U.S. Generally Accepted Accounting Principles (US GAAP) to International Financial Reporting Standards (IFRS) in the timber industry. I will cover the following topics: different accounting treatment under U.S. GAAP and IFRS‚ the influence on investment decisions‚ Plum Creek’s reason for the opposition against transformation‚ and conclude with my preferred accounting treatment under
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UNIT 5: ACCOUNTING FOR DEBENTURES LEARNING OBJECTIVES I) II) III) IV) V) VI) VII) IX) X) Understand the meaning and features of debentures. Differentiate between shares and debentures. Understand different classes of debentures Journal entries regarding issue of debentures for cash and for consideration other than cash. Accounting treatment of debentures issued as collateral security Accounting treatment of issue and redemption of debentures at par‚ discount and at premium. Understand the methods
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Economic Principle | Marketing Principle | Form Utility | | | | | | | | | | Utility is a term used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good. Utility may measure how much one enjoys a movie‚ or the sense of security one gets from buying a deadbolt. The utility of any object or circumstance can be considered. Some examples include the utility from eating an apple‚ from living in a certain house‚ from voting for a specific candidate
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Assignments Program: MBA (2 Years) Sem-1 Subject Name Marketing Management Permanent Enrollment Number (PEN) Roll Number (SEN) Student Name INSTRUCTIONS a) Students are required to submit all three assignment sets ASSIGNMENT DETAILS MARKS Assignment A Five Subjective Questions 10 Assignment B Three Subjective Questions + Case Study 10 Assignment C 40 Objective Questions 10 b) Total weightage given to these assignments is 30%. OR 30 Marks c)
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(a) | Qualitative characteristic being employed when companies in the same industry are using the same accounting principles. | Comparability | (b) | Quality of information that confirms users’ earlier expectations. | Feedback value | (c) | Imperative for providing comparisons of a company from period to period. | Consistency | (d) | Ignores the economic consequences of a standard or rule. | Neutrality | (e) | Requires a high degree of consensus among individuals on a given measurement.
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