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Critique A Statement of Basic Accounting Postulates and Principles by a study group at the University of Illinois (it should be on reserve or otherwise made available to you).
Your critique should cover, but not be restricted to, the following points:
a. How do the definitions of postulates, concepts, and principles differ?
b. Are the examples of postulates, principles, and concepts consistent with their definitions?
c. Does this set of postulates, principles, and concepts provide a legislative body with a useful framework for deriving operating rules?
what are the primary functions of the foreign exchange market? who are the participants in the market? how do global
The machine will have a residual value at the end of the 8 years of $8,000. The company has a 14% cost of capital. Compute the net present value of the project.
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Discuss contingencies and how they're reported on financial statements. What conditions should be met before a contingency can be charged against income?
One of your clients was to form a new business. He spoke to his lawyer and was advised to check with CPA to determine the business form of organization.
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Write down a memo to Stacey describing the tax consequences of incorporation. As part of your memo analyze the possibility of having the corporation issue common and preferred stock and debt for shareholders’ property and money.
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