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Assignment
1- Identifies potential ethical issues that the new accountants may face.
2- "An accountant has agreed to be named as the executor of a client's will. The will provides that the accountant will receive a fee equal to 1% of the assets under management and will receive a fee equal to 5% of estate net income during the existence of the estate." Do you see any ethical conflicts of interest potentially arising out of this arrangement?
3- CPAs need to maintain integrity and objectivity, but in some roles independence is not necessary. Do you feel independence is necessary in the role of a fiduciary? How are conflicts of interest avoided as a fiduciary?
Income before interest and taxes is expected to be $3,000,000. The company has a 30% tax rate and has 600,000 shares of common stock outstanding prior to the new financing.
kitchen rite is considering outsourcing the production of a steel chassis that is used in a kitchen appliance. two
Revenues, gains, and investments by owners are all increases in net assets. What are the distinctions among them?
macon farms raises peaches that at harvest are separated into three grades premium good and fair. joint cost is
Indicate whether each event is an asset source, use, or exchange transaction.
Hamilton Company owns 51,000 of Hennie Company's 100,000 outstanding shares of common stock. Hennie Company pays $25,000 in total cash dividends to its shareholders. Hamilton's entry to record this transaction should include a:
What is quality? What is total quality management (TQM)? What is Six Sigma?
gemcraft company bought a copyright for 45000 on january 1 1997 at which time the copyright had an estimated useful
Assets Distributions to owners Expenses Liabilities Comprehensive income Gains Equity Revenues Losses-Investments by owners Instructions Identify the element or elements associated with the 12 items below.
during the current year tachnic inc. made cash sales of 289000 and credit sales of 472000. during the year accounts
Question: Compare the salaries of at least two different positions, and in at least two different geographic areas? Did you find the numbers that resulted met your expectations, or was there some surprises? What if any?
a) Find the proportions of those earning at least $50,000 a year and those earning less than $50,000 a year who said they use the Internet. b) What is the difference in proportions?
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