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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.
Explain the Cost accounting: Meaning and definition: Cost accounting is the process of accounting for cost which begins with the incurrence of cost and ends with th
Describe the Selling costs and Development costs Selling costs: These are costs of seeking to create and stimulate demand (sometimes termed as marketing) and securing orde
Q. Show the process of Pricing during introduction? Pricing during introduction: in pricing a new product generally two kinds of strategies are suggested viz. a) Skimming p
Adm2341 manufactures and sells four different products. The following data are extracted from the most recent financial statements: Products
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Objectives of ratio analysis 1) Measuring the profitability: we can measure the profitability of the business by calculation gross profit net profit expenses ratio and other.
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HOW TO CALCULATE MATERIAL ACCOUNTING
The assignment model Consider the situation of assigning m jobs (or workers) to n machines. A job i(= 1,2,3 ...m) when assigned to machine j(= 1,2,3 ...n) acquires a cost Cij.
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