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1. Identify and briefly explain the two main categories of fraud which are of major concern to auditors.
2. What are the four defenses a CPA firm can normally use when facing legal claims by clients? Which of these defenses is ordinarily not available against third-party suits? Please explain
Compare and contrast how production analysis is performed and capable to evaluate production situations using economy of scale, elasticity and other analytic tools.
During 2012, Lorraine sold the following assets: business equipment for a $8,000 loss, stock investment for a $10,000 loss, and her principal residence for a $26,000 loss. how much of these losses may Lorraine claim on her 2012 return?
Which of the following would probably not cause the stock price of a foreign target to decrease?
At the beginning of 2008, a decision was made to change to the straight-line method of depreciation for this equipment. Assuming a 30% tax rate, the cumulative effect of this accounting change on beginning retained earnings, net of tax, is
The startup division made 80% of 1/2 of the established division. The startup division's growth was 1/3 greater than the established division's. If the divisions made 280,000 combined, how much did the startup division make?
A few days before the move, Philip hired a friend to organize his belongings, throwing out stuff that he did not need anymore and also packing some of his belongings in his closet. Philip paid her $7,000.
Yearly anutomobile inspections are required for residents of the state of Pennsylvania.Suppose that 18% of all inspected cars in Pennsylvania have problems that need to be corrected.
Assume that chapman company acquired abernethy's common stock for $490000 in cash. as of January 1, 2009, abernethy's land had a fair value of $90000, its buildings were valued at $160000 and its equipment was appraised at $180000. chapman uses th..
Calculate the partner's distributive shares of partnership income or loss and separately stated items.
What portion of the unrealized intercorporate profit is eliminated in a downstream sale? In an upstream sale? Explain.
Karen Company had 105,000 shares of common stock outstanding on January 1, 2011. On August 30, 2011, Karen sold 50,000 shares of common stock for cash. Karen also had 11,000 shares of convertible preferred stock outstanding throughout 2011.
Imagine the government has released funds for creating small businesses. You are interested in establishing a small business, and you must decide on the form of business organization that would best suit your unique product or service and business..
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