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Accounting Fundamentals for Health Care Management
Chapter 9, Test your know Knowledge
1) What is the purpose of an audit preformed by a CPA?
2) Do audits signify to fin financial statement users that no fraud and embezzlement occurred at the organanization?
3) How does a sampling financial transaction help an auditor identify accounting errors?
4) How do the auditor’s management letter and opinion letter differ from each other?
5) What is the opinion letter?
6) What are the different opinions that can be rendered on an opinion letter?
7) Describe government efforts to reduce audits failures.
EAC Approach You are considering the purchase of one of two machines used in your manufacturing plant. Machine A has a life of two years, costs $80 initially, and then $125 per year in maintenance costs. Machine B costs $150 initially, has a life of ..
The accounts receivable balance at the end of the previous quarter was $86,000 ($59,000 of which was uncollected December sales). Compute the sales for November. Compute the sales for December.
Deep Mines has 14 million shares of common stock outstanding with a beta of 1.15 and a market price of $42 a share. There are 900,000 shares of 9 percent preferred stock outstanding valued at $80 a share. What discount rate should the firm apply to a..
Mullineaux Corporation has a target capital structure of 41 percent common stock, 4 percent preferred stock, and 55 percent debt. Its cost of equity is 18 percent, the cost of preferred stock is 6.5 percent, and the pre-tax cost of debt is 8.5 percen..
Calpal is a small manufacturer of a special engineering workstation. The company operates one plant with a monthly capacity of 3,000 units. In addition, 750 units can be produced on an overtime basis, which is 30% more expensive, on the average.
Suppose the dividends for the Seger Corporation over the past six years were $1.21, $1.29, $1.38, $1.46, $1.56, and $1.61, respectively. Compute the expected share price at the end of 2014 using the perpetual growth method. Assume the market risk pre..
RRM Incorporated has just declared a dividend of $10.25 per share. The tax rate of dividends is 20 percent. The tax rate on capital gains is zero. The tax laws require the taxes to be withheld when the dividend is paid. RRM currently sells for $107..
Which one of the following defines the cash cycle?
You have decided to put a $100 a week into a savings account that offers 2.6% compounded weekly. How much would you have in your account after 6 years? Using problem 2 how much would you have if you were to make your first payment today, i.e. made it..
Suppose that you buy a two-year 8.1% bond at its face value. What will be your nominal return over the two years if inflation is 3.1% in the first year and 5.1% in the second? What will be your real return?
Various management actions provide investors with clues as to the future prospects for the firm. Which of the following actions by management contains the most positive economic information for common stock investors?
You borrow $78,000 to purchase a new car. The dealership offers you a 7% APR for 5 years. how much of your first car payment is interest expense? Explain how you found your answer.
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