Answer: Enron
Explanation:
Enron scandal was an accounting scandal that involved Enron Corporation, which was an American energy company that was based in Houston, Texas.
Enron hid huge amount of trading losses, which led to its bankruptcy. The company used fraudulent accounting practices in order to inflate the revenue of the company and.hid the debt that the company incurred.
During March, the production department of a process operations system completed and transferred to finished goods 19,000 units that were in process at the beginning of March and 110,000 units that were started and completed in March. March's beginning inventory units were 100% complete with respect to materials and 55% complete with respect to conversion. At the end of March, 30,000 additional units were in process in the production department and were 100% complete with respect to materials and 28% complete with respect to conversion. Compute the number of equivalent units with respect to both materials and conversion respectively for March using the weighted-average method.
Answer:
Production Department
Materials Conversion
Equivalent units of production 140,000 118,400
Explanation:
a) Data and Calculations:
Units Materials Conversion
Beginning work in process 19,000 100% 55%
Started and completed 110,000 100% 100%
Ending work in process 30,000 100% 28%
Equivalent units of production:
Started and completed 110,000 110,000 (100%) 110,000 (100%)
Ending work in process 30,000 30,000 (100%) 8,400 (28%)
Equivalent units of production 140,000 118,400
Drawbacks of using variable or full costing to set transfer prices include ______. Multiple select question. suboptimization that may occur as fixed costs per unit may push the transfer price above market price a lack of incentive to control costs because they are simply passed to another department a lack of cooperation between managers who are being pitted against each other a lack of departmental profit for the supplying department
Answer:
a lack of incentive to control costs because they are simply passed to another department
a lack of departmental profit for the supplying department
suboptimization that may occur as fixed costs per unit may push the transfer price above market price
Explanation:
The limitation that could come after using the variable or full costing in order to set the transfer price involved the lack of the incentive for controlling cost, lack of departmental profit and the supoptimization that could be arise when the fixed cost per unit force the transfer price i.e. over and above to the market price
Therefore the above statements should be considered
The full disclosure principle: Multiple Choice Prescribes that accounting information is based on actual cost. Provides guidance on when a company must recognize revenue. Prescribes that a company report the details behind financial statements that would impact users' decisions. Prescribes that a company record the expenses it incurred to generate the revenue reported. Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.
Answer:
Prescribes that a company report the details behind financial statements that would impact users' decision
Explanation:
The Full Disclosure Principle refers that the information i.e. relevant and significant for understanding the financial statement of the company should be involved at the time of filing in the public company
Also it reports the information behind the financial statement that have an effect on the decision of the users
Therefore the above statement represent an answer
Is marketing information as important to small firms as it is to larger firms? Explain.
Answer:
Yes, it is. --- in my opinion.
Explanation:
There are no right or wrong answers in questions like this, because the question seeks opinions. So, my solution will be based on my opinions.
Marketing information is important to all firms, irrespective of whether the firm operates on a large scale or a small scale.
This is so because one of the means through which firms compete amongst themselves is through the way they market their products and/or services. The way a firm markets their products and/or services may make or mar their presence in the industry. This is not peculiar to large firms alone. In fact, small firms need to put in extra efforts because they are just growing up, and they still have a lot of space to cover in the industry.
Also, when a firm gives high priority to marketing information, such firm is expected to have huge turnouts of sales. The higher the sales a firm makes, the increase the growth of such firm.
Hence, marketing information is important to all firms, irrespective of their size.
Marketing refers to the activities of the company that are aimed at undertaking to promote the business through the method of buying and selling.
Marketing includes the promotion of services and goods. So as to generate demand in the market and potential includes selecting the right audience. The selection of the terms of sale. Checking the price, discounts, and warranty which may include the decision-making capacity of the buyers.The large or the small firm tries to capture the wants and desires of the customers that have the potential to become an economic gain. Hence they are important for large and small business.Learn more about the information as important to small firms as it is to larger organizations.
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For years, the world used a small nation in Central America as a place to assemble goods and benefit from inexpensive labor. The nation decided to shift its base from simple assembly to a full-fledged manufacture of components and finished goods. It introduced a policy that stated 65 percent of the value of a product must be produced locally. This is an example of a(n)
Answer: Local Content Requirement
Explanation:
Local Content Requirements are the rules whereby a company must get a particular amount of the final value of a good from the domestic firms by buying from the local companies or sometimes through the manufacturing of the good locally.
The local content requirements is used by the government in order to protect and develop the domestic industries and ensure economic growth.
Which of the following describes the purpose and activities of a parallel team? Multiple Choice to provide recommendations and resolve issues not specifically connected to production to perform complex tasks that take place in highly visible or challenging circumstances to produce a one-time output (product, service, plan, design, etc.) to integrate activities of subunits across business functions
Answer:
Provide recommendations and resolve issues not specifically connected to production
Explanation:
Parallel teams can be regarded as highly task-focused team ,which is been drawn on individuals ranging different functional areas as well as locations. This team are usually generally make completion to their work base on defined schedule. In most cases, parallel teams are not usually disbanded but they could be there so they can handle a subsequent set of tasks. It should be noted that One of the the purpose and activities of a parallel team is to Provide recommendations and resolve issues not specifically connected to production.
Classify the following exchanges as "Qualifying" or "Not Qualifying" as a like-kind exchange under § 1031. Qualifies / Not Qualifying a. Improved for unimproved real estate b. Rental house for personal residence c. Business land for rental house (held for investment) d. Warehouse for office building (both used for business) e. Truck for computer (both used in business) f. Rental house for land (both held for investment) g. Office furniture for office equipment (both used in business) h. Unimproved land in Jackson, Mississippi, for unimproved land in Toledo, Spain i. General partnership interest for a general partnership interest
Answer:
a. Improved for unimproved real estate
Classification: Qualifying
b. Rental house for personal residence
Classification: Not Qualifying
c. Business land for rental house (held for investment)
Classification: Qualifying
d. Warehouse for office building (both used for business)
Classification: Qualifying
e. Truck for computer (both used in business)
Classification: Not Qualifying
f. Rental house for land (both held for investment)
Classification: Qualifying
g. Office furniture for office equipment (both used in business)
Classification: Not Qualifying
h. Unimproved land in Jackson, Mississippi, for unimproved land in Toledo, Spain
Classification: Not Qualifying
i. General partnership interest for a general partnership interest
Classification: Not Qualifying
A Nasdaq-listed stock currently shows an inside market of 15.50 - 15.75, 10 x 10. A broker-dealer that is not a market maker in the stock simultaneously receives orders from two customers, one to buy 500 shares of the stock at the market, the other to sell 500 shares at the market. Rather than send the orders to a market maker for execution, the broker-dealer matches the two orders with one another at 15.625, and charges each client a commission. This transaction is:
Answer:
cross trade
Explanation:
In simple words, A cross trade can be understood as a transaction when purchase and sell requests for the identical instrument are balanced alone without transaction being recorded on the market. Whenever a stockbroker performs matching buy and sell transactions for about the exact securities across several customer accounts plus reports these on an interchange, this is known like a cross transaction.
Wolfe Company purchased a truck for $62,000, with an estimated useful life of 8 years and a salvage value of $10,000. The company uses the double-declining-balance method of depreciation; however, after year 3 they switch to the straight-line method. There is no change to the estimated useful life or salvage value. What is the accumulated depreciation balance at the end of year 5 (round to the nearest dollar)
Answer:
$42306
Explanation:
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life) = 2/8
Depreciation expense in year 1 = 2/8 x 62,000 = 15500
Book value at the beginning of year 2 = 62,000 - 15500 = 46500
Depreciation expense in year 3 = 2/8 x 46500 = 11625
Book value at the beginning of year 3 =46500 - 11625 = 34,875
Depreciation expense in year 3 =34,875 x 2/8 = 8718.75
Book value at the beginning of year 4 = 34,875 - 8718.75 = 26156.25
Straight line depreciation expense = (book value of asset - Salvage value) / useful life
26156.25 - 10,000 / 5 = 16156.25 / 5 = 3231.25
Depreciation expense for the remaining 2 years = 3231.25 x 2 = 6462,50
total depreciation = sum of year 1 to 5 depreciation = 6462,50 + 15500 + 11625 + 8718.75 = $42306
Which is a job?
A. Newspaper carrier
B. Editor
C. Graphic artist
D. Teacher
The option which is a job is: A. Newspaper carrier
An employee can be defined as an individual or person who is employed by an employer of labor to perform specific functions, tasks or duties in a company (business firm). Thus, he or she is saddled with the responsibility of providing specific services (functions, tasks or duties) for his employer while being paid a certain amount of money either hourly, daily, weekly or monthly depending on the contractual agreement between the two (2) parties i.e the employee and the employer.
A job can be defined as a group of interrelated and homogenous tasks that are performed similarly. Thus, it comprises the duties, responsibilities, functions and tasks that are performed by an employee in exchange for an amount of money as wages.
In this context, a newspaper carrier is considered to be a job because this employee is saddled with the responsibility of picking up and loading newspaper into a delivery truck or bike, deliver and sell newspaper to customers over specific routes or destinations, collect money from subscribers (customers) on a periodic basis, etc.
In conclusion, a newspaper carrier is a job while an editor, graphic artist and teacher is a profession.
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A city filed eminent domain proceedings in order to obtain 40 beach houses fronting a particularly attractive stretch of shoreline. As part of an elaborate plan to increase the city's tourist trade and revive the local economy, the city planned to sell the beach houses to a company that would demolish the houses and build a luxury hotel in their place. The owners of the beach houses have challenged the city's exercise of eminent domain, contending only that the city's plan is unconstitutional. Will the owners of the beach houses be likely to prevail
Answer:
No, because the planned sale to the private developer to increase the tourist trade qualifies as a public use.
Explanation:
Eminent domain is the provision that gives a government the ability to take a private property and convert it to public use. The owner of the property is however required to be compensated adequately.
In this instance the city filed eminent domain proceedings in order to obtain 40 beach houses as part of an elaborate plan to increase the city's tourist trade and revive the local economy.
Since this is for public gain the city has a legal right to file for an eminent domain here.
So the owners will most likely not prevail in this situation
Es el costo identificado plenamente en el segmento de producción, puede estar asociado a productos o servicios procesados o ejecutados y se transfieren directamente al producto final.
Answer:
Costos directos
Explanation:
El costo directo es aquel en el que se incurre durante la producción de bienes terminados y este costo está directamente asociado con los bienes fabricados. Este costo se agrega al valor de los productos finales terminados y luego se agregan otros costos indirectos y costos fijos a los productos terminados según la tasa de absorción.
Auditing standards require that auditors document Group of answer choices all conversations with management. results of the procedures performed to address the risk of management override of controls. specific risks of fraud identified at the financial statement level, but not at the assertion level. all of the above.
Answer:
results of the procedures performed to address the risk of management override of controls.
Explanation:
Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.
The purpose of internal controls is that companies use strong internal controls to guarantee that loss is eliminated as there's an accurate and reliable accounting system.
Basically, an internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency.
An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.
Auditing standards require that auditors document results of the procedures performed to address the risk of management override of controls in accordance with the public company accounting oversight board (PCAOB).
An increase in the wage rate causes Group of answer choices a decrease in the quantity of labor demanded. an increase in labor's marginal productivity. a leftward shift of the firm's labor demand curve. a rightward shift of the firm's labor demand curve.
Answer:
a decrease in the quantity of labour demanded.
Explanation:
Changes in wage rate leads to changes in the quantity of labour demanded and not a change in demand.
Changes in the quantity of labour demanded leads to a movement along the demand curve for labour and not a shift of the demand curve.
The quantity demanded of labour is inversely related to the wage rate.
An increase in the wage rate increases the cost of employing labour. As a result, the quantity demanded of labour falls
On the other hand, a decrease in the wage rate reduces the cost of employing labour. As a result, the quantity demanded of labour increases
What is the first step in the standard purchasing process practiced by most
companies?
A. Solicit bids
B. Requisition
C. Invoicing
D. Purchase order
Answer:
B. requisition
Explanation:
i have done this before, hope i helped
Which of the following communications must be reviewed and approved by a principal before it can be used? A) An internal memo to be sent to registered representatives describing a new sales technique B) Promotional material to be sent only to mutual funds and insurance companies C) A letter to be sent to all customers reminding them of a change in the tax laws D) A letter to be sent this week to 30 existing customers recommending a new service being offered by the firm
Answer: I'm thinking C, but I cant find any evidence to help support it all to much. I looked up the answers and everything and no one knows, i'm sorry if I wasn't of any help
Good luck
The communications that must be reviewed and approved by a principal before they can be used are an internal memo to be sent to registered representatives describing a new sales technique, a letter to be sent to all customers and a letter to be sent this week to 30 existing customers recommending a new service. The correct options are a, c, and d.
An internal memo to be sent to registered representatives: Since this letter involves instructing staff members on sales practices, it should be examined and authorized by a principal. All clients are to get a letter informing them of an alteration to the tax laws: A principal should evaluate and approve this letter to make sure that it contains accurate, understandable information that complies with applicable tax regulations.
30 current clients will receive a letter this week proposing a new service the business is offering. A principal should also examine and approve this communication. Even though it is directed towards a certain consumer segment, it is still crucial for a principal to check it to make sure the information is correct, pertinent, and compliant with the company's marketing and advertising standards.
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Return on shareholders' equity indicates the percent of corporate earnings for each dollar of total equity invested in the corporation, whereas the earnings-price ratio reflects the percentage earned for each dollar of Multiple choice question. preferred stock. retained earnings. average total stockholders' equity. market value of common stock.
Answer:
market value of common stock.
Explanation:
The formula for earnings-price ratio is as follow
Earnings-price ratio = Earning Per share / Market value per share
This ratio determines the percentage of earnings as compared to each dollar of equity investment.
In this ratio, the equity investment is the market value of the share.
Hence the correct option is "market value of common stock."
If the Dow Jones Industrial Average is 3.2% down that means that: Question 10 options: The stocks of all the companies in Dow Jones lost 3.2% of their value. The average value of the 30 blue chip stocks is down by 3.2%. the average of the stocks value of the top 500 companies in the U.S. decreased in value by 3.2% It does not have anything to do with the stock market.
Answer:
b). The average value of the 30 blue-chip stocks is down by 3.2%.
Explanation:
'Dow Jones Industrial Average' also known as 'DJIA' is characterized as the standard indicator to denote the stock-market prices of the shares of the major companies associated with blue-chip in the United States.
As per the question, a down or fall in DJIA by 3.2% would indicate that the stock prices of the companies trading with 'blue-chip' have faced a reduction in their share prices by 3.2% for that day. So, this allows the investors to keep a check on the stock prices and invest accordingly whenever they find it profitable. Thus, option b is the correct answer as the other options fail to convey this idea rather they either talk about the loss of value instead of decrease(in options a and c) or disassociates the entire concept with the stock market(in option d).
A furniture producer has decided to buy its upholstery cloth from new suppliers. The president has given the purchasing manager responsibility to make the final selections and negotiate the terms. The purchasing manager looks through books with samples and specifications and then calls salespeople to make presentations to the production manager, who is concerned about how easy the cloth will be to cut and sew. In this case, the purchasing manager is a(n
Answer: All of the above
Explanation:
The options to the question include:
A. influencer.
B. a buyer.
C. a decider.
D. a gatekeeper.
E. all of the above
Based on the information given in the question, the purchasing manager is a buyer, influencer, gatekeeper, and decider.
The gatekeeper is a person who blocks the way between an individual and the decision maker in an organisation. This can be seen as he looks through books with samples and specifications and then calls salespeople to make presentations to the production manager.
The purchasing manager is also the decider as he makes the decision in the buying process for the organization. He's also the buyer and the influencer. Therefore, the correct option is All of the above.
Machvile Corporation, a robotics company, decides to acquire Chancera Inc., a start-up company that operates within the same industry. To better assess its decision, the management of Machvile Corporation needs to find out the value of Chancera Inc.'s total assets. The management has information regarding Chancera Inc.'s liabilities and stockholders' equity. In this scenario, the management should most likely use the _____ to get the required information.
Answer: Accounting equation
Explanation:
The accounting equation is a proposition or formula that accesses a company's assets by summing up it's equity and liabilities. It means that the equity of a company would equal it's assets minus liabilities.
Machvile Corporation can access properly the worth of Chancera Inc.'s by using the Accounting equation, weighing their assets and leaving out their liabilities.
Give examples if operational conflicts that could occur in a cross- cultural context because of different attitudes towards:1) time, 2) individualism. Give a country or region that would be different from the US for each of the two variables. (2.5 points).
Answer:
simple
Explanation:
The role of culture in influencing international business management practices and approaches is an undisputed fact [1, 2]. Studies have shown repeatedly that national cultural systems as well as individual cultures greatly affect the corporate cultural system [3, 4] in many ways. For example, national culture influences managerial decision-making, leadership styles, and human resource management practices [5, 6]. Similarly, national cultures affect managerial functions such as communication, motivation, organizational design, people’s expectations of work design, and reward systems [7]. Moreover, organizational polices (e.g., human resource polices) are influenced by various national institutions such as labor laws, educational and vocational training practices, and industrial standards and regulations [8]. In essence, culture organizes values into mental programs and the behavior of people within organizations is an enactment of such programs [9]. Organizations can be the same in such objective dimensions as physical plant, layout, or product, yet very different in the meanings, which the surrounding human cultures read into them [10]. Not only technologies and markets shape organizational culture, but by the cultural preferences of leaders and employees, national culture has a strong impact on people’s interpretations, understandings, and assessment of those with whom they work. Cultural values are important for interpersonal trust, teamwork, and the role of women in the workplace, among other issues [11, 12].
The category of inventory performance metrics that addresses effectiveness in terms of meeting demand requirements is referred to as _____. Multiple choice question. service level asset productivity inventory turnover days of supply
Answer:
service level
Explanation:
Service level in inventory management is defined as the probability of not hitting a product stock out in a business as it relates to customer demands.
There needs to be a balance between cost of inventory (or storage) and cost of having a stock out. Such that there is a guarantee that a depletion in stock does not occur.
A failure in service level will lead to customer dissatisfaction as a result of missed sales.
. In a sole proprietorship, the owner a. has full liability for all business debts and obligations. b. has limited liability, only liable for up to the value of her investment. c. must buy insurance to cover all liabilities. d. is liable for all business debts and obligations up to the extent of all profits taken from the business.
Answer:
A
Explanation:
A sole proprietorship is a type of business that is owned by one person
Characteristics
1. it is owned by one person
2. the business has unlimited liability
3. the business has limited access to capital
4. the business usually lacks continuity. this type of business usually ceases to exist when the owner dies
5. the business is usually not separated from the owner
Advantages of sole proprietorship
They are easy to establish The owner has complete control over ownershipDisadvantages of sole proprietorship
It has a limited life span. The business usually ends when the owner dies the owner has an unlimited liabilityIn addition to the Small Business Job Protection Act of 1996 encouraging small businesses to allow employees to enroll into a 401(k), what percentage of vesting begins immediately for the employee
Answer:
100%
Explanation:
401(k) plans are financial provisions that guarantee financial security after retirement. Prior to the Small Business Job Protection Act of 1996, these provisions were bogus and difficult to understand/comply with by businesses. The Act simplifies the requirements and allows employees to enroll in the 401(k) plans where the annual contributions testing is bypassed. Employees vest 100% of their salary. This means that they cannot forfeit all the money contributed. After retirement, they can benefit from their deferrals and profits.
After operating for years as a privately held corporation, MidAtlantic Ironworks plans to publicly trade its stock. As a midsized firm, MidAtlantic wants to avoid excessive paperwork, and the fear of being delisted in the future. The ________ provides the best fit for MidAtlantic's plans.
Answer:
I think the answer is"manager".
As a midsized firm, MidAtlantic wants to avoid excessive paperwork, and the fear of being delisted in the future. The over-the-counter market provides the best fit for MidAtlantic's plans.
What is over-the-counter market?Without the use of a central exchange or broker, market participants can trade stocks, commodities, currencies, or other financial instruments directly between two parties in a decentralized market known as an over-the-counter (OTC) market.
Since there are no physical sites for over-the-counter markets, trading is done online. Comparing this to an auction market structure is completely different. OTC marketplaces often have less transparency and are subject to fewer restrictions than exchanges.
By quoting prices at which they will purchase and sell a security, currency, or other financial instruments, dealers serve as market makers in an OTC market. In an OTC market, a trade can be made between two parties without the other parties being aware of the price at which the deal was made.
Even though OTC markets run smoothly most of the time, there remains a risk known as a counter-party risk that one of the parties to the transaction may default before the deal is finished or won't fulfill the current and future payments that are stipulated in the contract.
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both dual enrollment and AP courses offer the following possibilities except that
highlights four drawbacks of direct production
Answer:
Does not encourage trade as goods are produced for own use.
Citizens have limited variety of goods.
Discourages specialization as one is forced to produce everything required.
Hinders technological development due to use of simple production methods.
Explanation:
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Rebel Records announces it is cutting the prices of its bluegrass album titles by 25 percent. If Rebel is seeking to increase revenues, it must believe that the elasticity of demand for bluegrass albums is Group of answer choices elastic. inelastic. of unitary elasticity. perfectly inelastic.
Answer:
elastic.
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
If demand is elastic and price is decreased, quantity demanded would increase. The increase in quantity demanded would be greater than the decrease in demand and this would lead to an increase in revenue.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases
Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.
Morgan Company sponsors a postretirement health care plan for its employees. At the end of the current year, the expected postretirement benefit obligation (EPBO) relating to a particular employee is $25,000. To date, the employee has completed 10 of her 25 years of total expected service. The APBO at the end of the year relating to this employee is equal to
Answer:
APBO at end = $10,000
Explanation:
Given:
Expected postretirement benefit = $25,000
Years 10 to 25 years
Missing information:
Discount rate = 6% = 0.06
Find:
APBO at end
Computation :
APBO at end = Expected postretirement benefit[10/25]
APBO at end = 25,000[10/25]
APBO at end = 1,000[10]
APBO at end = $10,000
Bob and his sister Betty are co-owners of their late parents' business. Bob actively manages the business; Betty supplies capital from her inheritance but does not work in the business. They squabble over the distribution of profits from the business. Bob likely sees his sister as a _____, whereas Betty views her brother as a(n) _____. Group of answer choices predator; parasite co-owner; employee parasite; predator stockholder; manager
Answer: Parasite, predator
Explanation:
Managing businesses isn't an easy task despite it might be going well. On managing business, certain agreement has to be reached such as who finances , manages, and how interests are shared, when all these are well spelled out there would be no room for the other party to feel cheated while the other feels same way too. Betty and her brother feel cheated about each other's input regarding their business because they probably didn't spell out how the business operations would be run, they'll need to sort this out so they don't see each other so again.
