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1. What is an ethical dilemma? How can a person solve an ethical dilemma?
2. Which consulting or non-audit services are prohibited for the auditors of public companies? Why do you think such restrictions are in place?
3. What's the difference between business failure and audit risk? Why should auditors be concerned about business failure?
4. What is meant by contributory negligence? Under what conditions might this be a successful defense?
Explain the advantages and disadvantages of each set of performance measures. How do they must design the organizational architecture to control the agency problems?
Select which of these is NOT an example of a financial expert.
Johnson alarm systems had $800,000 of retained earnings on December 31, 2004. The company paid dividends of $60,000 in 2004 and had retained earnings of $640,000 on December 31, 2003.
What is the formal definition in the glossary of the term "Inventory?" What is the Codification topic number for inventory? What types of entities are not covered by the guidance in the Inventory Topic? (Provide the Codification reference for your ..
What were the limitations of the audit proceedures regarding management assertion of existence in the zzz best case?
Peter Company obtains all of the common stock of Sam Inc. by issuing 50,000 shares of its own stock. Under these circumstances, why might the determination of an acquisition price be difficult?
Write an article
If beginning work in process is 4,000 units, ending work in process is 2,000 units, and the units accounted for equals 10,000 units, what must units started into production be?
Prepare a schedule starting with pretax financial income and compute taxable income. Prepare the journal entry to record income taxes for 2011.
Discuss contingencies and how they're reported on financial statements. What conditions should be met before a contingency can be charged against income?
On December 31, 2006, Crawford Co. estimated that 1.5% of its net sales of $400,000 will become uncollectible.The company recorded this amount as an addition to Allowance for Doubtful Accounts. On May 11, 2007, Crawford Co.
Assuming that you are single and receive no deduction or any other credits, Mr. Wilson has asked you to calculate the total you will pay in income, Social Security, and Medicare taxes for a salary of $94,000.
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