Answer:
The correct answer is D
Explanation:
In this case, the new employee who reported to work, was given the responsibility to perform the review of the information on the balance sheet which was audited by the CPA.
So, here the role of new employee is described as the manager- financial analysis, who is responsible for the financial health of the organization or business, reviewing the financial data as well.
What is the criminal penalty for engaging in the real estate brokerage business in Texas without firstbecoming licensed by TREC?
Answer:
You must pay a fine of not more than $4,000
"identify each of the principles underlying aicpa auditing standards in the first column by selecting the letters corresponding to each of the principles (from the list of possible principles given below). use the second column to identify by roman numeral (from the list of failures given below) how the action(s) of holmes resulted in a failure to comply with each standard you selected in the first column"
Explanation:
Ray, the owner of a small corporation, ordered CPA Holmes to perform a record audit. Ray told Holmes that a loan application should include a prompt analysis of the audited financial statements of a bank. Holmes acknowledged the agreement unanimously and decided that an auditor's report should be given within 3 weeks. If the loan was granted, Ray accepted to pay Holmes a fixed fee plus a bonus.
Two accountant graduates were employed by Holmes to perform the audit and spent several hours saying exactly what to do. Holmes told the students to concentrate instead on providing accurate statistical facts in the documents and summing up a date that confirms Ray's financial statements that do not include footnotes, instead of testing the controls.
Holmes checked the documents and produced a report of the auditor without qualification. The article applies neither to the GAAPs nor to their consistent application.
The AICPA Auditing Standards principles provide rules for auditors to follow. Violation of principles like 'Professional Skepticism' and 'Due professional care' can lead to audit failures. Specific correspondences between Holmes' actions and these principles would require further details.
Explanation:The AICPA Auditing Standards provide guiding principles for auditors to perform their audits, and any deviation from these principles can lead to audit failure. To help with your schoolwork, let's discuss Holmes' particular cases.
We can't assume specific actions by Holmes without concrete examples, but in general, if Holmes violates the principle of 'Professional Skepticism' (for instance), it would mean he fails to critically question audit evidence (perhaps indicated by Roman numeral I in your list).
If Holmes infracted the 'Due professional care' principle, it would mean Holmes didn't apply scrupulous care and attentiveness during the audit (maybe identified by Roman numeral II).
These are generic scenarios. To provide a precise correlation between AICPA principles and Holmes' actions, more details would be needed.
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Which of the following countries comes a close second to the United States with respect to the quantity and quality of the marketing-related data available?A. Brazil
B. Australia
C. China
D. Japan
E. Kenya
Answer:
D. Japan comes close
Which of the following financial statements is concerned with the company at a point in time?
A. Statement of cash flows
B. Income statement
C. Balance sheet
D. Retained Earnings statement
Answer:
The correct answer is C
Explanation:
Balance sheet is the one of the financial statement, which reports the assets, shareholders' equity and liabilities of the company, at a particular point in time or particular period or year. This financial statement states or offers the basis or grounds for evaluating the return rates as well as computing the capital structure.
The balance sheet offers the snapshot of the accounts of the company which is at a given point in time.
Taco Bell and McDonald’s are considering adding kiosks in restaurants for customers to place their orders. This will hopefully make the ordering process more efficient and increase accuracy.
a. product change.b. technology change.
Answer: (B) Technology change
Explanation:
The technology change is one of the efficient process in environment as it helps in developing various types of technology for increase the accuracy and also the efficiency of the various types of products and the services.
We can efficiently change the technology result in the output without change the input as it also improves the overall output of the products. It is also known as the technological development as it helps in manage the overall process of innovation, diffusion and the invention.
According to the given question, the McDonald's and the Taco bell are try to adding the kiosks in their restaurants so that it helps the customers in placing the orders.
Therefore, Option (B) is correct answer.
Adding kiosks in restaurants for customers to place their orders is a technology change that aims to improve efficiency and accuracy.
Explanation:Taco Bell and McDonald’s adding kiosks in restaurants for customers to place their orders is an example of a technology change in the business industry. The introduction of kiosks is a technological advancement that aims to improve the efficiency and accuracy of the ordering process.
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A firm has good associations with its customers, suppliers, and others who provide added mutual value for the firm. Name the form of intellectual capital that is possessed by the firm due to its good associations.1. structural capital2. relationship capital3. human capital4. knowledge capita
Answer:
It is called relationship capital (2)
Explanation:
Relational capital is one of the three components of intellectual capital. It is value derived by the company by the virtue of relationships it has with its customers, vendors, and other important stakeholders.
This is created and maintained by having, nurturing and managing good relationships with all the important stakeholders in the business whether external or internal.
Operations Management is responsible for increasing the organization’s efficiency, which means the company will be able to __________.
Answer: Eliminating the activities that do not add value
Explanation:
The operation management is basically refers to the business administration that perform various types of function in an organization.
It is responsible for increasing the efficiency of an organization which means that the company eliminating the various types of activities which does not add any type of values for organization.
It also involve the various types of planning process, coordinating, controlling and organizing all the company resources for producing the effective products and the services.
Therefore, The given answer is correct.
In the ________ business model, a web-based business builds a digital environment in which buyers and sellers can meet, display products, search for products, and establish prices.
Answer:
Market creator
Explanation:
The internet has changed how bussines work and approach their costumers, market creator bussines model builds a digital environment where the buyer and the seller can meet easily, allowing them to search or display their products. An example of this bussines model is eBay.
I hope you find this information useful and interesting! Good luck!
In deciding whether to dismiss the suit, the court in California first should look to _________ sources of law, or sources that establish the law.
Answer:
Primary
Explanation:
The primary sources of law should be looked to when deciding whether to dismiss a suit or not. The primary sources of law are the determining bodies usually the government (federal and/or state) that make the laws. These bodies include the legislative, case laws, treaties, regulations and constitutions.
I hope this helps.
Note: Enter your answer and show all the steps that you use to solve this problem in the space provided.You have $59.95 in your wallet and want to buy some new CDs. If the CDs are $11.99 each, what number of CDs, x, can you buy? Write and solve an inequality.
Answer:
5
Explanation:
Cash at hand = $59.95
Price of one CD is $11.99
Number of CD that can be purchased = X
With this above information, we can write
1 CD = $11.99 -------- (1)
X CD = $59.95 ----------(2)
cross multiplying the above equations, we have
X x $11.99 = 1 x $59.95
$11.99X = $59.95
To calculate the value of X, divide both sides by $11.99
we have,
$11.99X = $59.95
$11.99 $11.99
X = 5
The value of X is 5.
Therefore, $59.95 will buy 5 CDs at $11.99ea.
I hope this helps.
A ____ brand usually requires a producer to become involved in distribution, promotion, and pricing decisions. a. manufacturer b. wholesaler c. store d. private distributor e. dealer
Answer:
manufacturer brand
Explanation:
The brand is recognized as the Manufacturer Brand when the producer sells products on its own title. Manufacturers strive for this differentiation by shifting their allegiance to other goods of the company to draw current loyal and happy consumers as well.
Responsibility for distribution and marketing is shared by producer.Because of the cheap prices provided by supermarket labels, clients usually conclude the supplier products are of greater quality than store brands.
The reason for the high cost of the brand of the supplier is due to the cost of distribution platform suffered. Several manufacturer companies have introduced low-price replacements to compete with minimum-price seller products.
Which of the following refers to a form of protectionism that stipulates a certain proportion of a product must consist of components supplied by industries in the host country or economic community? A. U.S. Generalized System of Preferences (GSP) B. Economic sanctions C. Nationalization D. Local content rules E. Expropriation
Answer:
D. Local content Rules
Explanation:
Local content rules/requirements emphasize that a certain proportion of a product be manufactured from locally supplied components as opposed to imported inputs in the host country. The aim of this is to safeguard and promote employment in domestic country, promote the growth of domesatic industries, and facilitate technological advancement in these industries and in the economy as whole.
Martha visits a departmental store and discovers that a box of exotic candles will cost her ten percent more than what she had paid six months ago. The increase in prices is same across the country. In this scenario, which of the following statements is true?1. The departmental store is trying to earn profits by increasing the prices of its goods.2. She has to pay twelve percent more than what she paid last month.3. She will have immediate purchasing power if she had a pay raise to match the inflation.4. The candles' subjective value increases with the increase in inflation.
Answer: She will have immediate purchasing power if she had a pay raise to match the inflation.
Explanation:
Martha's country has experienced an inflation, which is a general rise in price of commodities in a market. In an inflation, the local currency losses value, therefore Martha would need an income increase to be able to purchase the exotic candles.
Martha's experience with candle prices rising highlights the effects of inflation on purchasing power. If her income matches inflation, she maintains her ability to purchase goods despite price increases. Deducing the impact of higher prices on supply and demand can be challenging as seen in historical contexts.
Explanation:When Martha finds that the price of a box of exotic candles at a departmental store has increased by ten percent over the last six months due to a nation-wide increase, and not specifically by the store to gain more profit, several interpretations can emerge. In an economic context, such as inflation, a rise in prices affects purchasing power. If Martha received a pay raise that adjusts exactly with the inflation rate, she would maintain her purchasing power, meaning she could buy the same amount of goods as before the price increase - as illustrated by the Land of Funny Money example where a uniform 20% increase in prices and wages made no real economic impact.
However, the scenario doesn't suggest anything about a 12% increase last month or an assumption that the candles' subjective value has increased with inflation. These aspects are specific and would require explicit information about recent price trends or individual valuation of the candles respectively. The complexity of what influences price changes—inflation, supply and demand fluctuations, and individual or collective valuation of goods—is echoed in the historical example of Israel in 1985 when rapid inflation led to frequent changes in item pricing, complicating economic decision making.
Other things the same, if the interest rate falls, then a. firms will want to borrow more, which increases the quantity of loanable funds demanded.
Answer: (a).
Annexure: Since a part of the information was found missing in the question, a similar question has been provided as an attachment for reference.
If the interest rate falls with other things remaining constant, a firm would like to raise more money via debt instruments.
This will lead to an increase in the quantity of loanable funds demanded.
This would further lead to increase in the level of invested funds by the public as it would get cheaper for the corporates to avail loans.
Nick has just learned from the CEO that he needs to lay off fifteen workers. He cares a great deal about his employees and wants to convey this information in the best way possible. What medium should Nick use to tell his employees that they're fired?
Answer:
FACE TO FACE
Explanation:
If Nick cares a great deal about his employees and wants to convey this information in the best way possible, then the medium Nick should use to tell his employees that they're fired is the 'Face to Face' method which means announcing to them in Person.
The following reasons are why:
1. Shock Reduction. If a worker is being fired, that worker will receive such a news with negative shock which will be more severe if done in writing.
2. Clarity and Conciseness: Firing someone always comes with some level of confusion which can be adequately managed if done on a personal familiar level.
3. Emotional Management: Face to face information helps the manager to manage the emotions of sad feelings and give the employees a soft landing.
Final answer:
Nick should communicate layoffs to his employees in person with sensitivity and respect, ensuring privacy and honesty in each conversation, as opposed to the criticized approach of RadioShack's impersonal email notifications.
Explanation:
When it comes to the sensitive task of informing employees about layoffs, the medium of communication is of utmost importance. The decision by RadioShack Corporation to deliver layoff notifications via email was criticized and is often referenced as a blunder in human resources management. Experts like Business Week's ethics columnist Bruce Weinstein advocate for handling such sensitive matters with a more personal and ethical approach, emphasizing in-person notifications that are private, honest, sensitive, and not rushed. Learning from RadioShack's approach, it would be prudent for Nick to opt for face-to-face conversations to communicate the layoffs, ensuring he does so with the compassion and respect his employees deserve.
Service providers should refrain from asking feedback from customers to save time that can be used to provide better service quality.
A. True
B. False
Answer:
B. False
Explanation:
The target of service provision are the customers. So service providers must ensure that their targets are obtaining maximum satisfaction from the quality of service they provide and one way of doing this is by asking feedback from customers
Answer:
False
Explanation:
For service providers to provide excellent customer service, you first need understand their experiences, and dissatisfactions. They must ensure that their customers are obtaining quality service that they are providing, and of a necessity this can be gotten through asking customers for feedback. Getting your customers to give you feedback has another important benefit. It makes them feel relevant and that you place value on them, and are willing to look into their issues and profer solutions. This can help to even prevent them from sharing their negative comments on social media.
The Indiana state legislature passes a law increasing the minimum jail time for repeat violent offenders. This law becomes part of a body of law known as:______.a. case law. b. administrative law. c. uniform law. d. statutory law.
Answer:
D. Statutory law
Explanation:
A statutory law is the the term used to describe the set of rules that is written by legislative body of government. A statutory law differs from case law which is based on past legal decisions written by courts and administrative law written by the executives.
Answer:
(d) Statutory Law
Explanation:
The law passed by the Indiana state legislature increasing the minimum jail time for repeat violent offenders becomes part of a body of law known as the statutory law.
Statutory laws are written laws passed by legislature i.e state or federal legislature. These are some of the sources of law;
(i) Constitutional Law
(ii) Statutory Law
(iii) Case Law
By definition, this law passed by the Indiana state legislature seeking to increase jail time for repeat violent offenders is a statutory law mainly because it is a written law enacted by the Indiana state legislature.
A manager who trains and mentors subordinates to assist them in achieving their full potential within the organization is acting primarily within which function?
a. organizing
b. leading
c. demonstrating
d. controlling
e. planning
Answer:
It is leading (b)
Explanation:
Leading has to do with guiding the work efforts of other people in directions appropriate to action plans. It involves building commitment and encouraging work efforts that support goal attainment.
It provides mentor-ship and encourages others to bring the best out of them.
Dissatisfaction with public education has led many parents to try home schooling for their children. If parents cut back on their jobs outside the home in order to spend time teaching their children at home, how will this affect GDP?
Answer:
Explanation:
It is becoming a major concern in the current times that public education is becoming not good enough. As a result, many parents are now sacrificing their work time to teach their kids and possibly quitting their jobs . If they aren't working at all, their direct contribution of human capital would reduce hence decreasing the GDP. On the other hand, some parents may opt to working from home like working on a side hustle while taking time to teach their kids. This could increase the GDP.
Sue hired an attorney to help her draft a purchase and sale agreement for her new home. The home is an example of a product that is a(n)______________.
Answer:
tangible item
Explanation:
Tangible item -
This term tangible item is used in the field of business.
It refer to the object which a person can touch , is referred to as a tangible item.
For example ,
Paper , pen , books , car , house , computer etc. are all example of tangible item , as they can be touched.
Hence from the information of the question,
The correct term is tangible item .
Sue's new home is an example of a good. A good in business terms refers to a tangible item that is bought or sold, unlike services which are intangible.
Explanation:In the context of the question, Sue's new home is an example of a good. In business and economics, products are essentially divided into two main categories: goods and services. Goods are tangible items that satisfy human wants or needs. In Sue's case, the home is a tangible item which she purchases, therefore it is classified as a good. Services, on the other hand, are intangible products like the service provided by her attorney in drafting the purchase and sale agreement.
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Marketing executives at Diet Pepsi want to analyze the number of Diet Coke customers who switch to its product when Diet Pepsi is offered at a deep discount. What data would likely show this information?
Answer:
Panel data
Explanation:
A panel data is a multi-dimensional data that is collected over a period of time or multiple times for firms or individuals. It can also be called longitudinal data.
This kind of data usually shows a lot of things at the same time over the period of time that the data is being collected.
I hope this helps.
To assess the switch of Diet Coke customers to Diet Pepsi due to discounts, marketers should analyze sales, consumer surveys, and market share data focusing on the time frame of the promotion.
Marketing executives at Diet Pepsi seeking to analyze the number of Diet Coke customers who switch to Diet Pepsi when it is offered at a deep discount would likely look at sales data, consumer behavior surveys, and market share analysis. Specifically, they would need data on Diet Pepsi sales before, during, and after the promotion, as well as comparable data for Diet Coke.
They would also benefit from consumer behavior surveys that could provide insights into customers' reasons for switching. Observing trends in market share during the discount period could further help to quantify the impact of the discount on customer switching behavior. By correlating this data, they would better understand how price reductions influence customer choices between competing products.
Which of the following is not correct? a. The value of the economist’s language lies in its ability to provide you with a new and useful way of thinking about the world in which you live. b. Economists use some familiar words in specialized ways. c. Economics has its own language and its own way of thinking, but few other fields of study do. d. Supply, demand, elasticity, comparative advantage, consumer surplus, and deadweight loss are all terms that are part of the economist’s language.
The incorrect statement is: 'Economics has its own language and its own way of thinking, but few other fields of study do.' Every field of study has its unique terminology and thought processes, not just economics.
Explanation:The statement that is not correct among the provided options is: 'Economics has its own language and its own way of thinking, but few other fields of study do.' This statement is false because every field of study has its distinct language and ways of thinking. Economists do use some words in specialized ways, and terms like 'supply,' 'demand,' 'elasticity,' 'comparative advantage,' 'consumer surplus,' and 'deadweight loss' are indeed part of the economist's language. However, the same can be said for other disciplines as well – whether it's chemistry, linguistics, mathematics, or any other field, they all have their own specific terminologies and methodologies.
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The incorrect statement is that 'Economics has its own language and its own way of thinking, but few other fields of study do'. Every field of study has its own unique language and way of thinking, not just economics.
Explanation:The statement that is not correct among the options given is c. Economics has its own language and its own way of thinking, but few other fields of study do.
Indeed, economics uses a specialized set of terminology, known as the economist’s language, which includes terms like supply, demand, elasticity, comparative advantage, consumer surplus, and deadweight loss. This language affords a unique way of understanding and appraising the world. However, it is incorrect to say that few other fields have their own specific way of thinking. Many fields of study have their own unique language and conceptual frameworks. For example, a physicist perceives the world through concepts of force, energy, and matter, while a linguist might approach it through the structures of syntax, phonetics, and semantics.
So, while the uniqueness of economics and its terminologies is not in dispute, it is not alone in this regard within academic disciplines.
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Item 5Item 5 Large well-known companies often issue their own short-term unsecured debt notes directly to the public, rather than borrowing from banks; their notes are called _________.
Answer:
Commercial paper
Explanation:
A commercial paper is a short-term, unsecured money market debt instrument issued by big corporations. The maturity of commercial papers is within 270 days. The primary reason for issuing commercial paper is to assist the corporations in meeting their short-term liabilities.
Commercial paper attracts the prevailing market interest rates. Since they are unsecured, corporations will usually issue them at a discount. Commercial paper is a cost-effective means of raising funds as they don't have to be registered with SEC if they are to mature within nine months.
A certain bookstore chain has two stores, one in San Francisco and one in Los Angeles. It stocks three kinds of books: hardcover, softcover, and plastic (for infants). At the beginning of January, the central computer showed the following books in stock. Hard Soft Plastic San Francisco 1,000 3,000 6,000 Los Angeles 1,000 6,000 3,000 Its sales in January were as follows: 600 hardcover books, 1,300 softcover books, and 2,000 plastic books sold in San Francisco, and 400 hardcover, 300 softcover, and 500 plastic books sold in Los Angeles. The bookstore chain actually maintained the same sales figures for the first 6 months of the year. Each month, the chain restocked the stores from its warehouse by shipping 500 hardcover, 1,500 softcover, and 1,500 plastic books to San Francisco and 600 hardcover, 600 softcover, and 600 plastic books to Los Angeles. (a) Use matrix operations to determine the total sales over the 6 months, broken down by store and type of book.
Answer:
Hard Soft Plastic
San Francisco 3,600 7,800 12,000
Los Angeles 2,400 1,800 3,000
Explanation:
The sales during January were as follows:
Hard Soft Plastic
San Francisco 600 1,300 2,000
Los Angeles 400 300 500
If the sales during the next five months were actually the same, then to determine total sales all we have to do is multiply January's sales by 6.
600 x 6 = 3,600 1,300 x 6 = 7,800 2,000 x 6 = 12,000
400 x 6 = 2,400 300 x 6 = 1,800 500 x 6 = 3,000
An _____________ is a probable economic benefit obtained or controlled by a particular entity as a result of past transactions or events.
Answer:
The correct answer to the following question will be "Assets".
Explanation:
A corporate asset is a valuable object privately owned. Business assets cover a lot of categories. These may be actual, tangible assets, such as automobiles, property development, devices, office equipment, and other items, or abstract goods, such as patents.
An asset is a potential environmental benefit earned or regulated by a specific entity as a result of previous purchases or occurrences.
Therefore, Assets are the right answer.
The term _____ is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. a. self-dealing b. investing c. marketing
Answer:
Marketing
Explanation:
There are various explanations for the term Marketing. It is essentially a group of activities aimed at creating a valuable customer relationship. Unlike traditional approaches which planned their activities based on what the customers would buy, the Marketing approach takes decisions based on wht the customer wants/needs. It places customer at the center and all the activities revolve around them.
You have the afternoon free. You have a choice between going to the movies with a friend or studying economics for three hours. If you go to movies, you will spend $8.00 on a ticket and $4.50 on popcorn. If you choose to study economics for three hours, you will raise your exam grade by 10 points. What is your opportunity cost of going to the movies?
Answer:
The opportunity cost of going to the movies is raising exam grade by 10 points.
Explanation:
Opportunity cost for doing something is what you have to give up for it, so in this case the opportunity cost of going to the movies will be what we are giving up for it. In this scenario we are giving up studying 3 hours and raising our exam grade b y 10 points so the opportunity cost of going to the movies is raising exam grade by 10 points.
The opportunity cost of going to the movies is both the money spent on the ticket and popcorn and the foregone benefit of raising your exam grade by 10 points, which could have long-term educational and financial benefits.
Explanation:The concept being discussed in the student's question is the opportunity cost, which is a fundamental principle of economics. The opportunity cost of going to the movies would be the benefits you forgo by not choosing the alternative option, which in this case is studying for economics. The direct costs of going to the movies are $12.50 ($8.00 for the ticket and $4.50 for popcorn). But the real opportunity cost to consider is the 10-point increase on your exam grade that you would potentially sacrifice by not studying. This increase in your exam grade might lead to better educational outcomes or scholarship opportunities, which can have long-term financial benefits. Therefore, the opportunity cost of going to the movies is not just the money spent, but also the lost benefits from the grade improvement.
Professor Knice gives his introductory psychology class of 300 students an exam, and everyone earns an A. The exam lacks the _____ to detect which students studied and which did not.
A)sample size
B)reliability
C)power
D)significance
The exam lacks the power to determine which students has studied and the students who have not studied
Explanation:
In his introductory class the professor in the motive of encouraging the students and to make them more involved in learning the subject he offers A grade to all the students
In this case the professor will lose his ability to judge the student and he will consume his time in understanding and estimating the students who has the ability to learn and the student who do not have
Housing prices have begun to drop. New home construction has stopped and fewer run-down houses are being repaired. (Use the graphs from the Supply and Demand Guide.)
Answer:
graph b
Explanation:
The prices of housing have decreased to a certain amount. Furthermore, there is no construction of a new building and the rate of repair of houses is low. This shows that there is a decrease in the demand for housing which results in a corresponding reduction in the price of housing as well as the supply of new housing.
Ben left the corporate rat race to start his own business that will allow him to earn a small income while providing plenty of time to pursue his love of pottery making. He does not expect either growth or high profits. Ben’s prospects for attracting outside financing are______________.
Answer:
Limited Finance.
Explanation:
Resource Reduced. Definition of a loan guaranteed by up to a certain amount. A loan on which one-third of the balance is guaranteed or collateralize, for example, is reduced recourse debt.
Short-term lending is somewhat more aggressive than long-term funding, but it also appears to be less expensive and give the investor greater flexibility. Both the rising and lower uncertainties are attributed to future potential increases in interest rates.