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In business, there is a tension between the principals (stockholders) and agents (managers). The managers may choose policies that increase short-term profitability (and their bonuses) at the expense of long-term profitability. Describe why the same types of problems may exist in government as well, where elected officials are the agents and voters are the principals.
A foreign currency transaction gain will be recognized by a U.S. company when it has a receivable from a foreign company
Virginia, who was experiencing financial difficulties, was able to adjust her debts as follows. Determine the tax consequences to Virginia.
The corporation elected S corporation status at the starting of 2011. On February 13, 2012, the property was sold for $40,000, payable in 4 yearly instalments of $10,000 plus interest. What is the amount of ordinary income to be reported from the s..
Future cash flows are, in many cases, subject to change. List several events that could occur that might influence the cash flows in this situation.
Questions about accounting problems on payroll, reciepts and sales.
Prepare a memorandum - Does Cost of Goods Sold decrease or increase when concluding a favorable variance? Does gross margin increase or decrease when a favorable variance is closed to Cost of Goods Sold? Describe.
The human resources department costs are allocated using the direct method and based on the number of employees, and the total amount of costs for the department is $187,000.
Supposing the county has incurred $800,000 of construction costs on the project by end of its fiscal year (June 30,20x5), the fund balance of capital projects fund employed to account for this project would be?
A change in an accounting estimate is: how much depreciation expense should the company recognize on December 31, 2010?
Chris White was a forestry technician who had been searching for several years for a business opportunity to combine with his forestry career
Classify the controls that you just identified above as either preventive, detective, or corrective controls. How does the matter of accountability (tracing transactions to specific agencies) affect the problem?
What is the total product costs incurred to make 10,000 units? What is the total amount of period costs incurred to sell 10,000 units?
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