ACCT420 Auditing Test Three – Out of Class Portion Due Monday‚ April 30‚ 2012 1. Listed below are four interbank cash transfers‚ indicated by the letters a‚ b‚ c and d‚ of a client for late December 20X1‚ and early January 20X2. Your answer choice for the next two questions should be selected from this list. For each of transfers a through d indicate whether cash is understated‚ unaffected‚ or overstated by the transfer and provide a brief example of what could cause the situation in which
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The Fatality of Failure: A Critique Mary Sherry’s article‚ In Praise of the F Word‚ delves into the negative effects of increasingly popular no-fail policies being used in the United States public school system. She describes how such practices deprive students of their rightful education. Sherry forms a compelling argument that undeveloped academic and occupational skills are caused by an absence of the fear of failure in the curriculum. While her argument is partially true‚ she fails to address
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Enron: Questionable Accounting Leads to Collapse In the case of Enron‚ it comes down to pure greed and a lack of accountability. From the top‚ there was illegal activity with Ken Lay‚ Jeffrey Skilling‚ and Andrew Fastow who raided the company as though it was their own personal bank. On top of that‚ the culture of the rest of the company was to make as much money as they could and employees were rewarded by the amount of profit they could make without questioning the ethical means to do so.
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Kansas City Hyatt Walkway Collapse Introduction The Hyatt Regency Hotel was built in Kansas City‚ Missouri in 1978. This hotel consisted of a 40-story hotel tower and conference facilities‚ which were connected by an open concept atrium. Inside the atrium‚ there were three walkways that connected the hotel to the conference facilities on the second‚ third‚ and fourth floors. The atrium was 145 feet long‚ 117 feet wide and 50 feet high. On July 17‚ 1981‚ approximately 2‚000 people had gathered
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challenges and change in his or her life. A person must learn how to provide a safe shelter for one another and ways of entertainment on spare time. Any person that can establish that successfully and be happy for any period of time has succeeded. “Failure is only the opportunity to
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The collapse of the Fargo Grain Elevator was an unfortunate event that could’ve been prevented. It has something in common with almost every other building in the world‚ it was built on soil. It is different everywhere you look and must be treated differently in every situation. Many people think that as long as there land beneath a building that it’s fine and you can put whatever you want on top of it. As years have gone by and scientists and engineers have been able to study different types of
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FAILURE IS NOT AN OPTION FAILURE IS NOT AN OPTION - Gene Kranz‟s leadership in movie < Apollo 13> INTRODUCTION Apollo 13‚ the 1995 motion picture directed by Ron Howard‚ is the true story of Jim Lovell‚ Fred Haise‚ and Jack Swigert‚ a team of astronauts reassigned to a space flight with diminished preparation time. Apollo 13 Mission in 1970 was planning to land on the moon as a routine‚ but after astronauts found oxygen tank‟s explosion and leaking‚ this routine mission to the moon suddenly
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Market failure happens – a situation in which economic efficiency has not been achieved because of imperfections in the market mechanism. These market failures consists of ; Externalities‚ public goods‚ merit goods‚ business fluctuations‚ legal system‚ re distribution of income..as clearly explained below. Business fluctuations are the ups and downs in overall business activity as evidenced by changes in national income‚ employment and prices. It is normal that a country passes through a recession
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Knowing Your Audience Paper BCOM/275 June 4‚ 2012 Quinton Murphy Chilean Copper Mine Collapse This paper will discuss in how important it’s to know your audience. When having to communicate a disaster like the Chilean copper mine that occur in South America it’s one example of where knowing your audience was a very important issue. This disaster in the Chilean copper mine‚ a disastrous downfall in one of
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Introduction Cognitive failure is defined as absent-mindedness‚ that is‚ mistakes or errors people make because of slips of attention or memory failure (Reason and Mycielska‚ 1982). Their origin has been traced to memory problems‚ attention problems errors in the implementation of intentions or errors caused by distractions. It also involves clumsiness and problems in social interactions or problems in processing information. Mostly students are prone to experience cognitive failure. If a person
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