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When translating foreign subsidiary income statements using the current rate method why are some accounts translated at an average rate?
a. this approach improves matching.
b. this approach accentuates the conservatism principle.
c. this approach smoothes out highly volatile exchange rate fluctuations.
d. this approach approximates the effect of transactions which occur continuously during the period.
The fair value of all Hathaway's identifiable tangible and intangible assets was $48,000,000. Short will amortize any goodwill over the maximum number of years allowed. What is the annual amortization of goodwill for this acquisition?
Which of the following is not considered actual receipt or "constructive receipt" of income in the current year? Which of the following does not have to be included in gross income?
Major influences of competitors, costs, and customers on pricing decisions are factors of: (a) supply and demand (b) activity-based costing and activity-based management
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Imagine you are the Director of Internal Audit and executive management has asked you to work with the Chief Information Officer to evaluate the security over Information Technology.
Foreaker LLC sold a piece of land that it uses in its business for $52,000. Foreaker bought the land two years ago for $42,500. What is the character of Foreaker's gain?
What irregular items did pepsi and coke report on their income statements over the years 2005-2007. What type of income formats does pepsi and coke use and what are the difference between them?
Top company holds 90% of Bottom Company's common stock. In current year, Top reports sales of $800,000 and Cost of Goods sold of $600,000. For this sam period,
Describe two business sectors you might want to work in if you were an accountant and explain why in 150 to 200 words.
Why is it possible for a company to show a profit on their income statements and still go bankrupt? If you were looking at the financial statements of a company, how would you go about satisfying yourself that a company was not having cash flow pr..
During 2011, Company X sells 500,000 units for $8 each. Sales discounts are $100,000 and sales returns and allowances are $300,000. The company reported a total of $710,000 in fixed assets on January 1, 2011 and $890,000 in fixed assets on Decembe..
The material sale of inventory items by a parent company to an affiliated company:
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