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Select the assumption, principle, or constraint that most appropriately justifies these procedures and practices. (Do not use qualitative characteristics.)    (a) Fair value changes are not recognized in the accounting records.   (b) Lower of cost or market is used to value inventories.   (c) Financial information is presented so that investors will not be […]

The manager of a small business receives a shipment of five hard drives. Three hard drives are good and 2 are defective. If a computer repair shop purchases 3 of this stock of hard drives from the small business and the selection was made at random. 1. List the elements of the sample space S […]

31 SKILL BUILDER Human Resource Forecasting Assignment I. OBJECTIVES A. To give you practice in forecasting an organization’s human resource needs. B. To familiarize you with some of the factors that affect an organization’s future human resource needs (growth, automation, turnover). C. To familiarize you with the complexities involved in making human resource forecasts. D. […]

Consider the following incomplete table of merchandiser’s profit data:    Sales                   Sales Discount       Net Sales            Cost of Goods Sold    Gross Profit   $   89,500               1,560         […]

Choose 1 essay question and answer it IN DETAIL as completely as possible. Your essay should include an introduction, a body, and a conclusion and should be written in an ORGANIZED FASHION. Be sure to incorporate ideas brought up in, both, the reading and the lecture. This essay MUST bea minimum of ONE FULL PAGE, […]

Competencies are the knowledge, skills, and behaviors required for successful performance.  With this assignment, your task is to create a PowerPoint Presentation (PPT) of a Competency Model recommended for an international human resource manager.   Research the information from sources such as the textbook, professional organizations, books from the library, and journal articles, to determine […]

Cherokee Company’s auditor discovered some errors in 2008 when preparing adjusting entries for 2008. Prepare the appropriate journal entries to be made in 2008 to correct these errors so that 2008 net income and retained earnings are correct.    (1) A machine with a 5-year life was purchased on January 1, 2007. The machine cost […]

E2-4 (Assumptions, Principles, and Constraints) Presented below are the assumptions, principles, and constraints used in this chapter.   1. Economic entity assumption   2. Going concern assumption   3. Monetary unit assumption   4. Periodicity assumption   5. Historical cost principle   6. Fair value principle   7. Expense recognition principle   8. Full disclosure […]

E2-2  (Qualitative Characteristics) The qualitative characteristics that make accounting information useful for decision-making purposes are as follows. Relevance Timeliness Representational faithfulness Reliability Verifiability Comparability Predictive value Neutrality Consistency Feedback value   Instructions Identify the appropriate qualitative characteristic(s) to be used given the information provided below. (a) Qualitative characteristic being employed when companies in the same […]

question 1: Walter Gogel Company is an industrial supplier of fasteners, tools, and springs. The amounts of its invoices vary widely, from less than $20.00 to more than $400.00. During the month of January the company sent out 80 invoices. Here is a box plot of these invoices. Write a brief report summarizing the invoice […]