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1. A firm's independent auditors have the responsibility to:
a. assess the firm's accounting policies.
b. ascertain the firm's profit potential.
c. uncover all fraudulent activities.
2. A firm's cash dividends were $3.96 per share of common stock for calendar 2008. In 2009 the stock was split 3 for 1, and in 2010 a 10% stock dividend was issued. Dividends per share for 2008, to be reported in the firm's annual report for 2010, are:a. $3.96b. $1.32c. $1.20
3. Business segment information is included in the explanatory notes to financial statements because:a. the amounts shown on the financial statements of most companies are just too large to comprehend.b. current and potential investors can make more informed judgments about the company.c. net income from various geographic areas can be clearly determined.
4. For 2008, Skresso Co. reported $3.64 of earnings per share of common stock. During 2009 the firm had a 4% common stock dividend. 2008 earnings per share to be reported in the annual report for 2009 are:a. $3.64b. $3.50c. $3.49
5. Management's statement of responsibility:a. usually refers to the company's system of internal controls.b. emphasizes that the auditors are responsible for the financial statements.c. gives the president of the company an opportunity to explain why profits changed.
Standard error of estimate (Se) The coefficient of determination r 2 gives us an indication of the reliability of the estimate of total cost based on the regression equation b
do you make assignments on Advance Accounting subjects
Status Resources We had classified constraints as scarce and abundant, depending respectively on whether or not the optimum solution "consumes" the entire available amount of t
Problem From the following balance sheets of Dramas Ltd., compute the trend percentages using 31st December 2005 as the base year. Assets & Liabilities
1. Calculate the manufacturing costs for the year. 2. Prepare a statement of cost of goods manufactured. 3. Prepare an income statement (assume an income tax 25%)
Determine the Scope and areas of cost reduction Scope and areas of cost reduction the scope of cost reduction is so wide that it is not practicable to develop fully the areas i
At the starting of the year, Asquith Company Ltd initiated a quality improvement program. The program was successful in decreasing scrap and rework costs. To help assess the impact
Transfer Pricing Methods Transfer pricing methods are concerned with the alternative means by which a transfer price can be set and its impact on organizations gauged. Emmanuel
Lock Box System: In this type of system, the customers are advised to mail their payments to a post office box hired through the firm for collection purposes near their region. T
Queue discipline 1) It refers to the manner in which customers behave in a queue, and to the order in which they are served up. For illustration; A customer may arrive at a que
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