PLEASE HELP
Question 6 of 20
Lisa decided to take a walk one Sunday afternoon. During her walk a
neighbor's dog broke away from the leash and attacked Lisa. For months
after the attack, Lisa would not go out of her house because she was so
shaken. Why would Lisa most likely be awarded aggravated damages?
A. Because there were witness to the attack who could prove the
attack was intentional
B. Because the neighbor intentionally let the dog loose to attack her
C. Because she was injured by the dog and had a lot of medical bills
to pay
D. Because the attack traumatized her so much that should couldn't
leave the house
Answers
Answer:
D. because (context clues)(process of illumination) let go back to "5th grade" ... first of all there was no witnesses mentioned in the scenario second were do they come off talking about a bill nothing was mentioned about a bill thirdly they said the dog 'broke Loose' so if it was intentional them he would have been at her door step. so that's why its D. and plus she was "traumatize" so that leads into fear and fear leads into staying away. and to be honest shes a idiot for not addressing the situation around the same month, if she was so traumatize by what happened.
Answer:
D. Because the attack traumatized her so much that should couldn't
leave the houseExplanation:
Related Questions
which of the following suggestions would an experienced business owner offer to help someone who is thinking about starting a business venture?
Answers
Work with a thriving businessman to gain experience.
What distinguishes an entrepreneur from a businessperson?The pursuit of profit is just a businessperson's primary goal, and the greater the profit, the greater. Entrepreneur, on the other hand, typically concentrate on their passion and business growth. such that obtaining personal satisfaction from successfully designed products and services is the primary objective.
Can anyone succeed in business?Yes, anyone may start their own business, but not everyone will achieve the very same level of accomplishment. It takes a significant amount of experience, grit, and occasionally education to be an entrepreneur. Nevertheless, there really are entrepreneurs from each and every demography and there aren't any requirements to becoming one.
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Fraud Investigators Inc. operates a fraud detection service. On March 31, 10 customers were billed for detection services totaling $21,000. On October 31, a customer balance of $1,300 from a prior year was determined to be uncollectible and was written off. On December 15, a customer paid an old balance of $760, which had been written off in a prior year. On December 31, $460 of bad debts were estimated and recorded for the year.
Required:
1. Prepare journal entries for each transaction above. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
a) Record the service revenue of $34,000 billed on account.
Transaction General Journal Debit Credit
a
B) Record the write-off of a certain customer account from a prior year which is not collectible totaling $1,950..
Transaction General Debit Credit
C1.Record the reversal of the write-off of a $810 customer account.
C2. Record the receiptof cash of $810 from the customer.
D. Record the estimate bad debts of $590 for the year.
2. Complete the following table, indicating the amount and effect (+ for increase, − for decrease, and NE for no effect) of each transaction. Ignore income taxes.
Transaction Net Receivable Net Sales Income From Operation
A
B
C
D
Option for A : NE, +/- 34,000, +34,000, -34,000
Option for B : NE, +/- 1950, +1950, -1950
Option for C: NE, +/- 810, +810, -810
Option for D : NE, +/- 590, +590, -590
Answers
Answer:
Fraud Investigators Inc.
1. Journal Entries:
March 31: Debit Accounts Receivable $21,000
Credit Service Revenue $21,000
To record the rendering of service on account.
Oct. 31: Debit Allowance for Uncollectible Accounts $1,300
Credit Accounts Receivable $1,300
To write-off uncollectible accounts.
Dec. 15: Debit Accounts Receivable $760
Credit Allowance for Uncollectible Accounts $760
To reverse a previously written-off account.
Dec. 15: Debit Cash $760
Credit Accounts Receivable $760
To record the cash collected from the customer.
Dec. 31: Debit Bad Debts Expense $460
Credit Allowance for Uncollectible Accounts $460
To record bad debts expense for the year.
A) Debit Accounts Receivable $34,000
Credit Service Revenue $34,000
To record the rendering of service on account.
B) Debit Allowance for Uncollectible Accounts $1,950
Credit Accounts Receivable $1,950
To write off uncollectible accounts.
C1) Debit Accounts Receivable $810
Credit Allowance for Uncollectible Accounts $810
To reverse a previously written-off debt.
C2) Debit Cash $810
Credit Accounts Receivable $810
To record the receipt of cash from the customer.
D) Debit Bad Debts Expense $590
Credit Allowance for Uncollectible Accounts $590
To record bad debts expense for the year.
2. Transaction Net Receivable Net Sales Income From Operation
A +34,000 +34,000 +34,000
B -1,950 NE -1950
C +/- 810 NE +810
D NE NE -590
Explanation:
a) Data and Analysis:
March 31: Accounts Receivable $21,000 Service Revenue $21,000
Oct. 31: Allowance for Uncollectible Accounts $1,300 Accounts Receivable $1,300
Dec. 15: Accounts Receivable $760 Allowance for Uncollectible Accounts $760
Dec. 15: Cash $760 Accounts Receivable $760
Dec. 31: Bad Debts Expense $460 Allowance for Uncollectible Accounts $460
A) Accounts Receivable $34,000 Service Revenue $34,000
B) Allowance for Uncollectible Accounts $1,950 Accounts Receivable $1,950
C1) Accounts Receivable $810 Allowance for Uncollectible Accounts $810
C2) Cash $810 Accounts Receivable $810
D) Bad Debts Expense $590 Allowance for Uncollectible Accounts $590
The Market Place recently announced that it will pay its first annual dividend two years from today. The first dividend will be $0.50 a share with that amount doubling each year for the following two years. After that, the dividend is expected to increase by 4 percent annually. What is the value of this stock today if the required return is 15 percent?
Answers
Answer:
$12.99
Explanation:
Calculation to determine the value of this stock today if the required return is 15 percent
First step is to calculate P4
P4= ($0.50 *2^2*1.04)/(0.15 - 0.04)
P4= $18.91
Now let calculate the value of this stock today (P0)
P0= [$0.50/1.15^2] + [$1/1.15^3] + [($2 + $18.91)/1.15^4]
P0= $12.99
Therefore the value of this stock today if the required return is 15 percent will be $12.99
When using earned value techniques, Actual Cost (AC) refers to the total of costs incurred in accomplishing work on the activity during a given period.
True or false?
Answers
When using earned value techniques, Actual Cost (AC) refers to the total of costs incurred in accomplishing work on the activity during a given period is true.
What does the term "total real cost" mean?The total amount needed to acquire an asset is its actual cost, which may take into account a variety of elements. the cost that was charged by your provider. the expense of delivering the asset. the price of establishing the asset. the price of evaluating the asset.
Which value actually means?Subtracting any depreciation, the replacement value is the same as the actual cash worth. There are rules for declaring the worth of the products while importing them. Customs duty and other taxes are determined using this number as a starting point. The worth of an imported good can be determined using a variety of techniques.
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The figures above show plots of monthly excess returns for two stocks plotted against excess return for a market Index. Use the figures to answer the next question Which stock is riskier for an investor currently holding just one stock in their portfolio? O Stock A is riskier. O Both stocks are equally risky O Stock Bis riskier. O Cannot be determined from the information given.
Answers
As per the given portfolio, the most risker stock is stock A.
Here we have given that show plots of monthly excess returns for two stocks plotted against excess return for a market Index.
And we need to find in which stock is riskier for an investor currently holding just one stock in their portfolio
While we looking into the given question we have identified that the risk of the diversified portfolio consists primarily of systematic risk.
Now, we have to looking into the Beta measures systematic risk which one is the slope of the security characteristic line.
Therefore, based on the beta score, we have concluded in that the two figures depict the stocks' SCLs, here Stock B's SCL is steeper, where as the stock has the overall broad steep.
Therefore, option (a) is correct.
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On December 28, 2024, Tristar Communications sold 10 units of its new satellite uplink system to various customers for $25,000 each. The terms of each sale were 1/10, n/30. Tristar uses the gross method to account for sales discounts.
In what year will income before tax be affected by discounts, assuming that all customers paid the net-of-discount amount on January 6, 2025? By how much?
In , income before tax will be by
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Earnings before tax (EBT)-It is the quantity of cash left after all charges are subtracted from revenues. Because companies pay tax at distinctive charges depending on the place they are located, EBT is a more true reflection of profitability than profits after tax (EAT).
Is EBIT identical as profit earlier than tax?Profit before taxes and revenue earlier than activity and tax (EBIT), are both fantastic measures of a company's profitability. However, they grant barely one-of-a-kind views on monetary results. The most important difference is that whilst PBT money owed for pastime in its calculation, EBIT doesn't.
Is profits before taxes or after?Gross annual earnings is your income earlier than tax, whilst internet annual profits is the amount you are left with after deductions. This topic is important if you're a wage earner or a commercial enterprise owner, in particular when it comes to filing your taxes and applying for loans.
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https://brainly.com/question/13793671#SPJ4Acreddited investor i am a knowledgeable executive an individual who is an executive officer, director, trustee, general partner, or person serving in a similar capacity, or the advisor.
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An accredited investor is a person or a company that is authorised to trade securities even if they are not officially registered with the financial authorities.
Securities that have not been registered with regulatory bodies like the SEC may be legally purchased by accredited investors. Many businesses decide to directly market securities to this group of accredited investors. Companies can save a lot of money thanks to this decision's exemption from having to register securities with the SEC.
A private placement is the term used to describe this kind of share offering. These accredited investors could be exposed to a lot of risk as a result. Authorities must therefore make sure that they are experienced, financially secure, and knowledgeable about their risky endeavours.
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discrimination in the form of access barriers to productivity-increasing opportunities is termed group of answer choices wage discrimination. employme
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Discrimination in the form of access barriers to productivity-increasing opportunities is termed as Human capital discrimination.
Describe discrimination.Discrimination refers to the unfair or unfavorable treatment of individuals or groups based on traits like race, gender, age, or sexual orientation. The basic answer is yes.
How is discrimination carried out?Various forms of discrimination exist. Discrimination can occasionally be both direct and intentional (for example, if a person or group treats another person differently on purpose because of a Code ground). This kind of prejudice typically results from unfavorable attitudes and biases related to that basis.
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which of the following is the characteristic of a perfectly competitive industry that allows for long-run adjustment to restore efficiency when there is a change in costs or demand?
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(b) the easy entry or exit allows the number of firms to change in response to changes in supply or demand is the characteristic of a perfectly competitive industry that allows for long- run adjustment.
A hypothetical market system is referred to as perfect competition. Perfect competition offers a valuable model for illustrating how supply and demand influence pricing and behavior in a market economy, despite perfect competition seldom occurring in actual markets.
There are numerous buyers and sellers in a market with perfect competition, and prices always reflect supply and demand. Companies only make as much money as is necessary to stay in operation.
Other businesses would enter the market and reduce revenues if they were to make excessive profits. One standard or ideal kind to which actual market structures can be contrasted is perfect competition.
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Correct question:
Which of the following is the characteristic of a perfectly competitive industry that allows for long- run adjustment to restore efficiency when there is a change in costs or demand?
(a) the standardized good which allows for consumers to substitute one firm's goods or services
for another.
(b) the easy entry or exit allows the number of firms to change in response to changes in supply or demand.
(c) the large number of firms allows them to grow or shrink in size. (d) the interdependence of firms allows them to meet together to respond to changes.
We have implicitly assumed that Dallas Airline starts paying the salary of $15,000 per month only at the end of the two-month school. Such a practice drew significant complaints from the trainees. Dallas Airline decided to change its practice and pay the trainees during the training session as well. How would the new policy change Dallas Airline's class size
Answers
Answer:
The new policy will attract more trainees to the Dallas Airline school, thus increasing the class size to the maximum capacity.
Explanation:
The size of the class will increase dramatically. The Dallas Airline School may not have enough space to accommodate the training applicants. The payment of the salary during training is a motivating factor to trainees. It eliminates the significant complaints from the trainees. It levels the training ground for the Dallas Airline School to become consistent in practice with other airlines schools.
Consumer surplus results when companies charge a lower price for products than the value placed on them by customers. This occurs because
Answers
Costs of production are reduced as a result of the creation of value. Economies of extension depict circumstances were delivering at least two products together outcomes in a lower negligible expense than creating them independently.
Which term refers to increased product production as a result of consumer cost savings?A company's (and, by default, its customers') ability to save money through efficient production processes is known as an economy of scale. The average cost of producing something decreases as production volume increases, resulting in these cost savings.
What is preventing the company's global expansion from increasing profitability and profit growth?The necessity of localization limits a company's ability to grow profits and profitability by expanding globally. By customizing products to meet the tastes and preferences of people from different cultures, the company can increase profitability through the localization strategy.
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Portfolio investment is defined as O A. the acquisition of more than 40 percent of the shares of ownership in a company in another country. O B. the diversification of purchasing shares in many companies in one country so that risk is kept to a minimum. O C. the purchase of less than 40 percent of the shares of ownership in a company in another country. O D. none of the above Click to select your answer.
Answers
Portfolio investment is defined as the purchase of less than 40 percent of the shares of ownership in a company in another country.
The purchase of less than 40% of the stock in a foreign corporation is referred to as a portfolio investment. It describes when an investor buys stocks, bonds, or other securities in a firm with the intention of making a profit. It is distinct from direct investment, which entails buying a sizable part of a firm or starting a new company in another country.
Investing in a range of different companies across various industries and countries is a means for investors to diversify their portfolios and lower risk. Investors can spread their risk over more assets and possibly lower the portfolio's overall volatility by purchasing a portfolio of securities. Further, portfolio investment can involve the purchase of securities in both domestic and foreign companies.
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a graph titled changes in the u s consumer price index from 2006 to 2016 has year on the x-axis and average percent change on the y-axis, from negative 1 to positive 4. in 2008 the percent change was 4 percent, in 2009 negative 0.3 percent, in 2010 1.8 percent, in 2011 3.1 percent, in 2012, 2.1 percent, in 2013 1.5 percent, in 2014 1.6 percent, in 2015 0 percent, and in 2016 1.3 percent. use the drop-down menus to complete the statements. inflation is a measure of how prices increase . disinflation occurred . the inflation rate was about in 2014. overall, prices declined .
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The rate at which prices rise is measured by inflation. In 2009, when the percent change was -0.3%, disinflation took place.
Inflation in 2014 hovered at 1.6%. Since the average percent change was positive, prices did not generally decrease during this time. S rise in the general price level reduces the purchasing power of money by lowering the amount of products and services that each unit of currency can buy. This is why growing prices often cause inflation. High inflation may be undesirable, but low inflation may be equally damaging to the economy.
When the economy is struggling and inflation is too low, the Fed will switch to the opposing approach by lowering interest rates or buying assets to increase cash flow. Cost-push inflation results from a decrease in total supply of goods and services caused by rising manufacturing costs. Demand-driven inflation could be made worse by rising labour or raw material costs.
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Answer: increase, between 2008-2009, 1.5%, in 2009 only
Explanation: Just confirmed on edge
Think about the following questions: What channels do our target customers find most desirable? Do we need to continue offering and managing multichannel touch points? Can we move some of our customer segments to self-service or lower cost channel interactions? Would it make sense to off load and outsource some of our business functions to our current partners? Would they be capable of stepping in, or must we seek new partners? If a company is evaluating questions/topics such as these, with which of the goals listed below is the company most likely concerned?
a.
delighting customers
b.
redefining its position
c.
enhancing product offerings
d.
making more money
Answers
79% of marketers responded that content marketing (through organic traffic) was the most efficient strategy to reach their target audience.
Which marketing channel is most successful?Email or newsletters are effective channels that B2B marketers can use. Brands can share instructional materials with consumers thanks to email marketing. This approach has also worked well. 32% of marketers predicted that in 2023 they would use email marketing to engage potential consumers.
Think about your objectives. What goals do you have for marketing?
Talk to your customers as they travel.
Analyze the opposition.
Work your plan and evaluate the outcomes.
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Which of the following is not a condition requiring the use of the finance lease reporting method? O The lease automatically transfers ownership of the leased asset from the lessor to the lessee at the termination of the lease O The lease term is at least 75% of the economic useful life of the leased asset O The lease allows the lessee to use the leased asset during the lease term O The lease provides that the lessee can purchase the leased asset for a nominal amount (bargain purchase price) at the termination of the lease
Answers
The finance lease permits the tenant to use the chartered quality throughout the lease term. The transfer of the actual asset's possession at the lease term (LT) ends. The tenant should purchase the quality below the honest price from the proprietor.
The LT is typically for a serious or good portion of the involved asset's helpful life. Situations that may usually result in a lease being classified as a finance lease embrace the following: the lease transfers possession of the quality to the tenant by the top of the lease term.
A finance lease during which all risks and rewards area unit transferred to the owner of assets. The title might or might not eventually be transferred. 2. Lease term that tenant has choice to buy the assets type proprietor at value which is under honest price on the date once option become exercisable. To be classified as a finance lease, a minimum of one in every of the subsequent criteria should be true: A transfer of possession of associate quality to the tenant at the top of the term of the initial lease.
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In the current year, a company paid interest of $40,000, had net capital expenditures of $300,000, and issued net new debt of $75,000. In addition, the company reported cash flow from operating activities of $600,000, cash flow from investing activities of ($250,000), and cash flow from financing activities of $65,000. The marginal tax rate is 35%. Compute the free cash flow to the firm. In the current year, a company paid interest of $40,000, had net capital expenditures of $300,000, and issued net new debt of $75,000. In addition, the company reported cash flow from operating activities of $600,000, cash flow from investing activities of ($250,000), and cash flow from financing activities of $65,000. The marginal tax rate is 35%. Compute the free cash flow to the firm.
Answers
Answer:
Free cash flow to the firm = $326,000
Explanation:
The free cash flow to the firm can be computed using the following formula:
Free cash flow to the firm = Cash flow from operating activities + (Interest paid * (100% - Tax rate)) - Net capital expenditures ............... (1)
Where:
Cash flow from operating activities = $600,000
Interest paid = $40,000
Tax rate = 35%
Net capital expenditures = $300,000
Substituting the values into equation (1), we have:
Free cash flow to the firm = $600,000 + ($40,000 * (100% - 35%)) - $300,000 = $326,000
a whole life insurance policyowner does not wish to continue making premium payments. which of the following enables the policyowner to sell the policy for more than its cash value?
Answers
A life settlement agreement enables the policyholder to sell their insurance policy for a higher price than the policy's cash value.
J decides to pay his Whole Life insurance premiums in a monthly installment plan. Which of these assertions is true? When opposed to paying annually, the total premium is greater when paid monthly. A whole life insurance's "termination for lower paid-up policy of the same kind" clause permits the policyholder to do just that (n) On Mary's life insurance application, a mistake was made. Which of the following sectors does the incontestable clause NOT apply to, where mistakes on applications are frequently made? Beneficiary Contingent of the Insured J opts for a recurring monthly premium payment option on his Whole.
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FILL IN THE BLANK The ______ approach gives upper management a quick but thorough view of the organization via four indicators: customer satisfaction, internal processes, innovation and improvement activities, and financial measures.
Answers
Thru four factors: client satisfaction, processes, innovation and enhancement activities, a balanced scorecard approach offers upper management with a fast but thorough look at the company.
What exactly does the term "customer" mean?
Customer identification: A client is an individual or company who purchases services or products from that other company. Customers are important because they generate income. Businesses would fail if they did not exist.
What is the significance of customer service?
Customer service is essential because it fosters customer loyalty while also making employees' jobs easier. This, in turn, aids business growth. Organizations can recoup acquisition costs, retain the talented, and foster brand loyalty by providing excellent customer service.
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Identify the factors that cause the bank statement balance to differ from the depositor's book balance by matching each it its definition on the right.
1. Outstanding check
2. Deposit in transit
3. NSF check
4. Bank charges
Answers
A check that has been written but has not yet been cashed, deposited, or cleared by the bank is considered an outstanding check. A personal or business check can be outstanding.
Why a company's balance deposits in transit will differ from a bank's balance. Costs associated with check printing and bank service. Errors in the books of the company.
Charges and deposits made electronically that are shown on the bank statement but have not yet been recorded in the company's books.
What distinguishes the book balance from the bank statement?The cash balance that is recorded in a bank's records is shown on the bank statement balance. Some financial transactions that are not included in the bank balance are recorded in the book balance. The balance on a bank statement reveals transactions that are not included in the book balance of the business.
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Seaside inc acquired an equipment on january 1 for 31000 with an estimated four year life and 2000 residual value. seaside uses straight-line depreciation. which of the following entries would be used to record the sale of equipment for 10000 on december 31, 2026
Answers
The formula for calculating straight line depreciation is: Straight line depreciation = (cost of the asset – estimated salvage value) ÷ estimated beneficial life of an asset. Where: Cost of Asset is the preliminary purchase or building fee of the asset as nicely as any related capital expenditure.
What is straight line depreciation?Straight-line depreciation is an accounting process that spreads the cost of a fixed asset over the period an company expects to gain from its use. Depreciation influences a company's earnings statement, stability sheet, profitability and net assets, so it is essential for it to be correct.
Straight Line Example
Cost of the asset: $100,000. Cost of the asset – Estimated salvage value: $100,000 – $20,000 = $80,000 total depreciable cost. Useful life of the asset: 5 years. Divide step (2) through step (3): $80,000 / 5 years = $16,000 annual depreciation amount.
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https://brainly.com/question/24279065#SPJ4Currently, XYZ Corporation can produce 50 units of output using 20 workers and 8 units of capital. Which of the following changes in the number of workers, units of capital, and quantity of output are consistent with constant returns to scale? Workers Capital Output
(A) 40 8 100 (B) 20 16 90
(C) 20 4 25
(D) 10 4 25
(E) 10 8 25
Answers
The answer is B: 20 workers, 16 units of capital, and 90 units of output. Following changes in the number of workers, units of capital, and quantity of output are consistent with constant returns to scale.
This is consistent with constant returns to scale because the ratio of workers, capital, and output remains the same. In the original example, the ratio is 2.5 workers to 1 unit of capital to 2.5 units of output. In Option B, the ratio is also 2.5 workers to 1 unit of capital to 2.5 units of output. Therefore, Option B is consistent with constant returns to scale.
The phrase "returns to scale" describes how efficiently a company produces its products and services.
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Travis reported the financial health of his landscaping company to the board of directors. The financial statements had not yet been issued for the end of the quarter, but Travis included all accounting events that had occurred after the close of the quarter. Travis is practicing the principle. a.) measurement/cost b.) full disclosure c.) time period d.) revenue recognition
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The Full Disclosure Principle states that all relevant and necessary information for the understanding of a company’s financial statements must be included in public company filing. The Correct option (B)
According to the full disclosure principle, any information that might influence how well a reader understands an entity's financial statements should be included in those statements. Since there is a lot of information that may be presented, this concept can be interpreted in very judgemental ways.
In the long run, the Full Disclosure Principle helps to foster trust in business organizations because it enables investors to assess a firm's financial sustainability prior to investing in it, which is good for the company and the economy as a whole.
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The common stock of Dayton Repair sells for $43.19 a share. The stock is expected to pay $2.20 per share next year when the annual dividend is distributed. The firm has established a pattern of increasing its dividends by 2.25 percent annually and expects to continue doing so. What is the market rate of return on this stock
Answers
Answer: 7.35%
Explanation:
Based on the information given, the market rate of return on this stock will be calculated as:
= (D1/P0) +G
where,
D1= Dividend at year 1 = 2.20
P = price at present =43.19
G = dividend growth rate =2.25%
We then slot the figures into the formula and we will get:
= (D1/P0) +G
= (2.20 / 43.19) + 2.25%
= 0.051 + 2.25%
= 5.1% + 2.25%
= 7.35%
Therefore, the market rate of return will be 7.35%.
Heidi hired Michael as an agent to sell her house. Michael received an offer from a potential third-party buyer, but he decided not to tell Heidi because he was afraid the ridiculously low offer would insult her. Michael has breached which, if any, of the following duties?
Multiple Choice
O The duty of loyalty
O The duty to indemnify
O The duty of obedience
O The duty of notification
O Michael has not breached any duty owed Heidi; instead, as Heidiâs agent, Michael had the discretion to determine whether the offer was sufficient to justify informing her of the offer
Answers
Michael received an offer from a potential third-party buyer, but he decided not to tell Heidi because he was afraid the ridiculously low offer would insult her. Michael has breached the duty of notification.
A written provide from a dealer to a ability sponsor is called a offer. When a consumer takes into consideration elements apart from fee whilst creating a purchase, enterprise proposals are regularly an vital section withinside the complicated income process.
A idea is whilst one character shows to every other that they may be inclined to behave or chorus from appearing for you to get the alternative character's popularity of the proposed act or refraining from appearing. A idea informs the patron approximately the dealer's capacity to satisfy their needs at the same time as additionally putting the consumer's necessities in a context that advantages the dealer's items and services.
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Select the statement that is most accurate with regard to materiality.
a Materiality does not create discretionary choices for managers, executives and auditors.
b Earnings management is not sufficiently material to constitute fraud.
c Materiality is based on a percentage of net sales.
d Materiality includes both quantitative and qualitative factors.
Answers
The primary purpose for setting overall materiality when planning the audit is that it is used to identify performance materiality relative.
Unfortunately, under U.S. Generally Accepted Accounting Principles, materiality is not defined in any particular way (GAAP). But according to the International Financial Reporting Standards' (IFRS) Conceptual Framework for Financial Reporting: Information is considered substantial if leaving it out or reporting it incorrectly could affect the choices users make when using financial data regarding a particular reporting entity. In other words, the nature, size, or both of the things to which the information refers in the context of an individual entity's financial report determine materiality for that entity. There are numerous ways to define materiality. However, the general rule is that a financial misrepresentation is serious if it has the potential to affect the choices made by users of financial statements.
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the following information is available for fenton manufacturing company at june 30: cash in bank account $ 7,955 inventory of postage stamps $ 89 bank account balance $ 13,900 petty cash balance $ 500 nsf checks from customers returned by bank $ 1,017 accounts payable $ 766 cash in register $ 1,757 a certificate of deposit maturing in five years $ 9,500
Answers
Based on the information provided, Fenton Manufacturing Company has the following cash and cash equivalents:
Cash in bank account: $7,955
Petty cash balance: $500
Cash in register: $1,757
Total cash and cash equivalents: $7,955 + $500 + $1,757 = $10,212
Why other items are not included?
Note that the inventory of postage stamps and the certificate of deposit are not included in the calculation of cash and cash equivalents because they are not readily available for use. The accounts payable and NSF checks are also not included because they represent liabilities, not assets. The bank account balance is not included because it is not specified whether it is a checking or savings account, and it is not clear whether it is readily available for use.
What are cash and cash equivalents?"Cash and cash equivalents" is a term used to refer to the value of a company's assets that are cash or can be easily converted into cash. These assets are typically listed on the balance sheet and may include bank accounts, marketable securities such as commercial paper and short-term government bonds, and other assets that can be quickly converted into cash.
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TRUE OR FALSE the balanced scorecard perspective that assesses whether or not the organization encourages employees to make suggestions and question the status quo is known as the perspective.
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It's true that the perspective is known as the state of affairs.
Why is having a perspective in life important?Perspective allows us to consider multiple viewpoints and other people's opinions, experiences, and points of view. This increases our ability for understanding and empathy. Prejudice, condemnation, and conflict are reduced.
What, for instance, does perspective mean?A method of considering and comprehending anything (such as a specific problem or life in general) [count] He gave us fresh eyes to view the issue from. [=angle, viewpoint] In the 1940s, the narrative is recounted from the viewpoint of a little kid.
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Metaline Corp. uses the weighted average method for inventory costs and had the following information available for the year. The number of units transferred to finished goods during the year is: Beginning Work in Process (40% complete, $1,100)200 units Ending inventory of Work in Process (80% complete)400 units Total units started during the year3,200 units Multiple Choice 3,200 units. 3,000 units. 3,400 units. 3,160 units.
Answers
Answer:
Results are below.
Explanation:
The weighted average method blends the costs and units of the previous period with the costs and units of the current period.
Units completed in the period + Equivalent units in ending inventory WIP (units*%completion) = Equivalent units of production
Units completed= (3,200 + 200) - 400= 3,000
Equivalent units of production= 3,000 + 400*0.8
Equivalent units of production= 3,320 units
A manufacturer has an estimated practical capacity of 90,000 machine hours, and each unit requires two machine hours. The following data apply to a recent accounting period: Actual variable overhead$ 240,000 Actual fixed overhead$ 442,000 Actual machine hours worked 88,000 Actual finished units produced 42,000 Budgeted variable overhead at 90,000 machine hours$ 200,000 Budgeted fixed overhead$ 450,000 Of the following factors, the manufacturer's production volume variance is most likely to have been caused by: A. A wage hike granted to a production supervisor. B. A newly imposed initiative to reduce finished goods inventory levels. C. Acceptance of an unexpected sales order. D. Temporary employment of workers with lower skill levels than originally anticipated.
Answers
Answer:
Of the following factors, the manufacturer's production volume variance is most likely to have been caused by:
D. Temporary employment of workers with lower skill levels than originally anticipated.
Explanation:
a) Data and Calculations:
Estimated practical capacity = 90,000 machine hours
Machine hours per unit = 2
Estimated production units based on capacity = 45,000 (90,000/2)
Budgeted Actual
Variable overhead = $200,000 $240,000
Actual fixed overhead = $450,000 $442,000
Machine hours 90,000 88,000
Units produced 45,000 42,000
Estimated units to be produced based on standard machine hour
= 44,000 units (88,000/2)
Variance between standard units to be produced and actual = 2,000 (44,000 - 42,000) Unfavorable
which of the following examples are outcomes of a well-planned digital marketing strategy? select three.
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This calls for improving interactive technology, online services, and digital audience engagements in order to improve customer service.
What results from using digital marketing?Students should have the chance to study the importance of content, its uses, and how to create a variety of content campaigns in a digital marketing course. The choice-making of the audience is significantly influenced by content creation.
What is a good example of a digital marketing strategy?An online presence can be built utilizing technologies like social media, paid search, organic search, and other web-based platforms like your website. The target market, the best way to reach them, the price point at which the good or service should be sold, and the method by which the business will evaluate its performance will all be determined by the marketing strategy.
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