• Q : Misappropriating cash receipts for personal use....
    Accounting Basics :

    A fraud examiner suspects that a client's cashier is misappropriating cash receipts for personal use by lapping customer checks received in the mail. In attempting to uncover this embezzlement schem

  • Q : Problem regarding to fraud auditor....
    Accounting Basics :

    A fraud auditor confirms a representative number of open accounts receivable as of December 31 and investigates respondents' exceptions and comments. By this procedure the fraud auditor would be mos

  • Q : Auditor about the initial assessment....
    Accounting Basics :

    Auditors may identify conditions during fieldwork that change or support a judgment about the initial assessment of fraud risks. Which of the following conditions should alert an auditor about the i

  • Q : Opportunities to commit fraudulent financial reporting....
    Accounting Basics :

    Which of the following is not a factor that relates to opportunities to commit fraudulent financial reporting?

  • Q : What is the unit cost per tax return....
    Accounting Basics :

    Jayne Nopen, CPA, prepares tax returns. The production costs and the number of tax returns prepared for the month of September are as follows: What is the unit cost per tax return? Please show all w

  • Q : What are the equivalent units....
    Accounting Basics :

    Leynard Inc. manufactures desks. The following data was given for production in February: Leynard Inc. manufactures desks. The following data was given for production in February:What are the equivale

  • Q : Cost and benefits associated with a switch to ifrs....
    Accounting Basics :

    Why hasn't the U.S. followed the global trend of IFRS adoption and what cost and benefits might be associated with a switch to IFRS in the United States?

  • Q : Advantage-disadvantage of replacing the old equipment....
    Accounting Basics :

    If the old equipment is replaced now, it can be sold for $60,000. Both the old equipment's remaining useful life and the new equipment's useful life is 5 years. The net advantage (disadvantage) of r

  • Q : Machine hours available to manufacture a product....
    Accounting Basics :

    Latte has a unit contribution margin of $45 and takes three machine hours to make and cappuccino has a unit contribution margin of $32 and takes two machine hours to make. There are 1,200 machine ho

  • Q : Decisions based on guesses and intuition....
    Accounting Basics :

    The following problems have occurred at your company: management seems to be making decisions based on guesses and intuition, there's a lack of clarity concerning direction and goals, and profitable

  • Q : Developing a competitive strategy....
    Accounting Basics :

    After critical success factors (CSFs) have been identified, the next step in developing a competitive strategy is to develop relevant and reliable measures for these CSFs. These measures are importa

  • Q : Five steps of strategic decision making....
    Accounting Basics :

    The five steps of strategic decision making include all of the following steps except:

  • Q : Product cost for the manager company....
    Accounting Basics :

    A manager of a small manufacturing firm is interested in knowing what the company's product costs are. Which of the following would be considered a product cost for the manager's company?

  • Q : Survive without a long-term strategy....
    Accounting Basics :

    In the current business environment, companies cannot survive without a long-term strategy. What exactly should an effective strategy include?

  • Q : Aspect of a contemporary management technique....
    Accounting Basics :

    Which of the following aspect of a contemporary management technique is a framework and process that organizations use to manage the occurrence of possible events that could negatively or positively

  • Q : Transferred out of work-in-process....
    Accounting Basics :

    The cost of goods that were finished and transferred out of work-in-process during the current period is:

  • Q : Assess the diluted earnings per share....
    Accounting Basics :

    Given the following data, compute diluted earnings per share. (Diluted Earnings per share = Adjusted Earnings After Taxes / Shares Outstanding + All convertible securities)

  • Q : Problem regarding balance sheet date....
    Accounting Basics :

    The investments of Giving Tree, Inc. include a single investment: 9,000 shares of Cardio Solutions, Inc. common stock purchased on March 3, 2012, for $22 per share including brokerage commission. Th

  • Q : Effective-interest method of amortization problem....
    Accounting Basics :

    DL Hughey uses the effective-interest method of amortization and straight-line depreciation :

  • Q : What type of lease is this for the lessor....
    Accounting Basics :

    (a) What type of lease is this for the lessor? Discuss. (b) Calculate the annual lease payment. (Round to nearest dollar.) (c) Prepare a lease amortization schedule for Hayes Corp. for the life of the

  • Q : Potential reasons for the decline in profit....
    Accounting Basics :

    what are the potential reasons for the decline in profit? In general, what would be your recommendation(s) and/or what items would you want to look at in trying to solve this problem? Be specific.

  • Q : New possession raised some interesting tax issues....
    Accounting Basics :

    On September 8, 1998, when Mark McGwire hit his 62nd home run of the year, a Busch Stadium grounds keeper, Tim Forneris, retrieved the ball. Before the big event, a collector had offered $1,000,000

  • Q : How long was the money left in the account....
    Accounting Basics :

    Patricia inherited $25,000 and invests this amount in an account that earns 4% interest per year compounded quarterly. If her investment grows to $31,742.50, how long was the money left in the accou

  • Q : Reporting purposes and tax purposes....
    Accounting Basics :

    Dana Corporation's accumulated depreciation at December 31,2004 for reporting purposes and for tax purposes, respectively, will be:

  • Q : After-tax cash inflow from the sale of the machinery....
    Accounting Basics :

    Burke Limited sold Machinery with a cost of $96,300 and accumulated depreciation of $54,200 for $32,500 cash. If Burke's income tax rate is 30%, the after-tax cash inflow from the sale of the machin

©TutorsGlobe All rights reserved 2022-2023.