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The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 50,000 shares were originally issued and 5,000 were subsequently reacquired. What is the amount of cash dividends to be paid if a $1 per share dividend is declared?
a. $50,000
b. $5,000
c. $100,000
d. $45,000
On March 1, 2009, Warren sold 30 million common shares. In keeping with its long-term share repurchase plan, 2 million shares were retired on June 30. Warren's net income for the year ended December 31, 2009, was $1,050,000,000. The income tax rat..
Discuss the 6 principles of professional conduct. When working in the field of auditing, ethical situations will always arise. Should you ever violate your ethical beliefs under any circumstances?
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All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was:
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Briefly describe the advantages and disadvantages of stating a code of conduct using general statements of ideal conduct as opposed to specific rules that define unacceptable behavior.
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It has been said that many corporate executives seemed to believe that it was their job not to produce accurate financial statements for the auditors to certify, but rather to bully the auditors into certifying as aggressive a set of financial sta..
An error was discovered during 2007. Specifically, depreciation expense was understated in 2005 resulting in the need for a Prior Period Adjustment of $25,000 before taxes.
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