Answer:
Option d would be the correct approach.
Explanation:
The organized database of the important tasks required in carrying out a task that has been extrapolated from such a job description and used in job classification and assessment and personnel policies as well as positioning.This usually includes tasks, intent, obligations, nature including employment conditions of a position including the description of the position, as well as the identity or description of the individual the input data to.Many examples do not apply to the subject being discussed. So option d is indeed the right one.
Control activities constitute one of the five components of internal control described in the COSO model. Control activities do not encompass:________
a. Performance reviews
b. Information processing
c. Physical controls
d. An internal auditing function
Answer:
d. An internal auditing function.
Explanation:
COSO is an acronym for Committee of Sponsoring Organizations, it was established by five private organizations comprising of the largest finance, auditing, and accounting oversight committees in 1985 in the United States of America.
Control activities constitute one of the five components of internal control described in the COSO model. Control activities do not encompass an internal auditing function. The control activities are the strategic approach or plans and internal controls used by managers to reduce the high risks. These control activities include performance reviews, information processing, physical controls etc.
"A customer places an order to buy 100 shares of ABC at the market. The broker enters the order and receives a report of execution shortly thereafter. Ten minutes later, the customer telephones, and states that he placed the order in error and wishes to cancel the order. The appropriate procedure is to:"
Answer:
Explanation:
In this situation , the order has been placed and executed . Cancelling the order is impossible . The execution of an order is the completion of a buy or sell order for a security ,hence it is irrevocable and biding on both the seller and the buyer and none of the two parties can cancel it at such time.
The best and appropriate procedure to handle the situation is to explain the procedures and guiding rules in buying stock to the customer and make him to realize that the order has been executed and biding on them.
purchased inventory for $4,900 and also paid a $430 freight bill. JC Manufacturing returned 30% of the goods to the seller and later took a 1% purchase discount. Assume JC Manufacturing uses a perpetual inventory system. What is JC Manufacturing's final cost of the inventory that it kept? (Round your answer to the nearest whole number.)
Answer:
Final cost of Inventory $3,845.30
Explanation:
Calculation for the JC Manufacturing's final cost of the inventory that it kept
JC Manufacturing's final cost of inventory
Purchase Cost of inventory $4,900
Less Purchase returns and allowance ($1,470)
(30%*$4,900)
Less Purchase return ($14.70)
(1%*$1,470)
Add freight in $430
Final cost of Inventory $3,845.30
Therefore the Final cost of Inventory will be $3,845.30
George wanted a home in the St. Paul area. He was willing to pay premium price for it even though there were other homes in other areas that were better values. When George was asked why he was willing to pay so much, he told the sales associate that he worked in that area and that he wanted his children to attend school in a specific school district. George's willingness to pay top dollar for a home in St. Paul is because of which characteristic of value?
Answer:
George's willingness to pay top dollar for a home in St. Paul is because of the following characteristics of Value:
"Values are a set of choices with the ability to be fluid such that may be ranked depending on the current situation."
Explanation:
In the question above, George prioritised familiarity with and emotional attachment to the St. Paul area given that he had worked there before and was convinced about the value he'd get from a school in that area.
Notice that he could have put a premium of security, access to social amenities and a host of other factors. However, those factors are not key in the ranking of values which informed George's choice.
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Rio Tinto's incentive to adopt new robotic technology was increased by the high wages it was having to pay to attract miners and truck drivers. In this instance, Rio Tinto began using new robotic technology to
Answer:
Rio Tinto's incentive to adopt new robotic technology was increased by the high wages it was having to pay to attract miners and truck drivers.
In this instance, Rio Tinto began using new robotic technology to substitute capital for labor in production.
Explanation:
Which of the following is an element of a CPA firm’s quality control policies and procedures applicable to the firm’s auditing practice? Acceptance of a client relationship. Efficiency of organizational structures. Computer information processing. Professional skepticism of management.
Answer:
The correct answer is A
Explanation:
In addition to Independence, Integrity, and Objectivity ; Personnel Management ; Engagement Performance ; and Monitoring
the Public Accounting rules of Quality Control Standards require that a firm, as a matter of policy, must continually practice the Acceptance and Continuance of Clients and Engagements .
Cheers!
A landlord rented an apartment to a person with a wheelchair. The landlord allowed the tenant to install bath rails and replace the bathroom sink vanity with a pedestal sink with lever faucet handles; however, the landlord required the tenant to sign a restoration agreement that the accommodations would be restored to their former condition at the end of the lease. In addition, the landlord required the tenant to pay sufficient funds (over a period of time) into an escrow account to cover the bathroom restoration. Has the landlord violated the Fair Housing Act
Answer: No, the landlord can require a restoration agreement and the escrow account
Explanation:
The options to the question are:
A. No, the landlord can require a restoration agreement and the escrow account
B. Yes, the landlord cannot require the escrow account
C. Yes, the landlord cannot require restoration of the modifications
D. No, the landlord does not have to allow the tenant to make any of these modifications
The Fair Housing Act is a law that was put in place in order to curtail the discrimination towards home seekers and tenants by landlords. According to the act, every American should have a fair and equal opportunity regarding the place to reside without discrimination of any sort.
Based on the scenario that have been provided in the question, the landlord can require a restoration agreement and the escrow account.
This morning, Jeff found an aged bond certificate lying on the street. He picked it up and noticed that it was a 50-year bond that matured today. He presented the bond to the bank teller at his local bank and received payment for both the entire principal and the final interest payment.
The bond that Jeff found must have been which one of the following?
a. Debenture
b. Callable bond
c. Registered-form bond
d. Note Bearer-form bond
Answer:
The answer is D.
Explanation:
Note Bearer-form bond is a type of bond that is paid to the person presenting the the cheque at that very moment unlike registered-form bond is paid ONLY to the person that his name has been registered with the security exchange for the bond. Even if a stranger picks it up somewhere or is being stolen, the bond will not be honoured.
Option A(debenture) is incorrect because debenture is an unsecured long-term loan.
Option B(Callable bond) is also incorrect. This is a bond that can be claimed or redeemed by the person issuing it before its maturity.
intext:"A company has 50,000 shares of common stock outstanding. The stockholders' equity applicable to common shares is $1,470,000, and the par value per common share is $5. The book value per share is"
Answer:
$29.4 per share
Explanation:
A company has 50,000 shares of common stock outstanding
The stockholder's equity that is applicable to common shares is $1,470,000
The per value of common share is $5
Therefore, the book value per share can be calculated as follows
= $1,470,000/50,000
= $29.4 per share
Hence the book value per share is $29.4 per share
Your 15-year-old brother comes home with the great news that he has decided to buy his first car he found on Craigs List. Your brother has just agreed to give $7,000 to a buy the car. He signed the contract and just needs to pay the stranger and pick up the car. Your dad is upset and calls the stranger to tell him your brother will not be buying the car. The stranger can:_________.
a. do nothing.
b. sue your brother for specific performance.
c. sue your brother for breach of contract.
d. sue your dad for breach of contract.
Answer:
a. do nothing.
Explanation:
In this scenario the contract to buy the car was entered by your 15 year old brother. According to the law the legal age for an individual to be able to enter into a legal contract is 18 years and above.
If a person is less than 18 years they will require the guardian to be the person entering the contract on their behalf.
Since the contract was not entered into with the father's knowledge, this is not a legally binding contract.
So the stranger cannot sue in this instance
Health-Tech Materials is a firm that manufactures medical equipment purchased by hospitals and clinics. The firm employs over 2,500 workers in its two manufacturing facilities located in Texas and Arizona. Recently, Health-Tech dismissed a number of employees for ethics violations ranging from improper Internet usage to stealing company funds. In addition, the firm has been sued by two former employees for wrongful discharge. As a result, Health-Tech's top executives are evaluating the firm's hiring process, ethics training system, reward system, and disciplinary system to determine how to promote ethics and fair treatment.
Health-Tech's HR department has devised a brief ethics test for employees to use when determining if their actions match Health-Tech's code of conduct. Which of the following questions is LEAST likely to be included on the ethics test?
A) What Health-Tech employees will be affected by my actions?
B) Will my actions reflect negatively on the image of Health-Tech?
C) Would I perform this action if I worked for a Health-Tech competitor?
D) Is the action I am about to perform on behalf of Health-Tech a legal one?
Answer:
Correct Answer: The least likely question to be included in the ethic test is:
A) What Health-Tech employees will be affected by my actions?
Explanation:
This is because, it does not have a direct implication to the code of conduct expected by the Health-Tech's company when compared with others. For example, seeing a fraud going on in the company, it is expected that the staff should report to the appropriate management staff irrespective of whether the action would affect the staff's friend or not.
Sheridan Company, had 837000 shares of common stock issued and outstanding at December 31, 2017. On July 1, 2018, an additional 40600 shares of common stock were issued for cash. Sheridan also had unexercised stock options to purchase 31400 shares of common stock at $15 per share outstanding at the beginning and end of 2018. The average market price of Sheridan's common stock was $20 during 2018. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2018
Answer:
865,150 shares
Explanation:
The calculation of shares for diluted earning per share is shown below:-
Shares for diluted earning per share = Outstanding shares + Issued shares + Stock option
= 837,000 + (40,600 × 6 ÷ 12) + ((31,400 - (31,400 × $15 ÷ $20)
= 837,000 + 20,300 + 7,850
= 865,150 shares
Therefore we have applied the above formula.
An accounting firm conducts periodic reviews of the distribution of pay and other rewards granted to employees, such as promotions and increased office space. The goal of the reviews is to confirm that employees who received greater pay increases or other favorable outcomes have made significant contributions to the organization. This ensures the company uses _______ when rewarding its employees.
Answer:
distributive justice
Explanation:
Distributive justice refers to the equitable distribution of resources among the different community members. Here, the total amount or any other thing could be fairly allocated to each employee or a member so that the bias could not be existed
Here in the given situation, the employee who made significant contribution to the organization in return they got their pay increased or other beneficial results
So this represents the distributive justice
At the Blue Restaurants Corporation, an employee survey reports that efforts to increase worker satisfaction by redesigning jobs led to greater job satisfaction. The human resource department also measured lower rates of absenteeism and employee turnover. What will be the most likely impact of these trends on the profits of Blue Restaurants
Answer:
lower costs, leading to higher profits
Explanation:
Improving job satisfaction in the workplace results in better productivity. This is because employees get to enjoy what they do rather than feeling forced to work.
When the workplace is conducive it will result in lower rates of absenteeism and employee turnover.
These in turn lead to lower costs and higher profit.
Staff turnover is costly on the business as new hires have to be trained on the job to be effective.
Zen Corp, an Australian company, and Pluto Inc, an American company, entered into a one-time contract to build an elevated expressway in Florida. The contract was for a period of five years and both companies were equally liable under their agreement. This type of business enterprise is known as a _____.
Answer: Joint Venture
Explanation:
Joint Venture is a form of business whereby two parties will have to come together and utilize their resources and put their skills together as well in order to achieve a common goal.
Zen Corp, an Australian company, and Pluto Inc, an American company, entered into a one-time contract to build an elevated expressway in Florida. The contract was for a period of five years and both companies were equally liable under their agreement. This is a form of joint venture.
Antonio runs an online retail site and wants to set up a sitewide tag to measure online conversions for his future Google Ad campaigns. He's already set up conversion actions and has Google Tag Manager managing tags on his site. Which tag type should he choose to complete this process?
Answer:
The answer is Conversion Linker tag.
Explanation:
Antonio should have set up Google Tag Manager on his website. If the case is, without changing the code on his page, he should choose the Conversion Linker tag additionally to his landing page URLs, which automatically identifies the lead source.
"$1,750,000 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 400,000 tons will be recovered. The estimated residual value of the property is $150,000. During the first year, the company extracted 6,500 tons of ore. The depletion expense is"
The question is incomplete. Here is the complete question.
The Weber Company purchased a mining site for $1,750,000 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 400,000 tons will be recovered. The estimated residual value of the property is $150,000. During the first year, the company extracted 6,500 tons of ore. The depletion expense is
Answer:
$26,000
Explanation:
Weber company purchases a mining site for $1,750,000
The company is expected to mine ore for a period of 10 years
A total of 400,000 tons is expected to be recovered
The estimated residual value of the property is $150,000
During the first year, the company extracts 6,500 tons
Therefore, the depletion expense can be calculated as follows
Depletion expense= Actual number of tons that was extracted/Total number of tons to be extracted during the working period × (Original cost of the site-residual value)
= 6,500 tons/400,000 tons × ($1,750,000-$150,000)
= 0.01625 × $1,600,000
= $26,000
Hence the depletion expense is $26,000
Bates Inc. is an enterprise comprising three parts. Its biotech section, which is working to develop crops that are pest and disease resistant, provides about half of its sales. Pharmaceuticals from its B.D. Feller subsidiary contribute a third of its revenues; and food products, dominated by the artificial sweetener NutroSweet, make up less than 15 percent of its total revenue. These three divisions represent Bates' ________.
Answer:
Strategic business units.
Explanation:
In this scenario, Bates Inc. is an enterprise comprising three parts. Its biotech section, which is working to develop crops that are pest and disease resistant, provides about half of its sales. Pharmaceuticals from its B.D. Feller subsidiary contribute a third of its revenues; and food products, dominated by the artificial sweetener NutroSweet, make up less than 15 percent of its total revenue. These three divisions represent Bates' strategic business units.
A strategic business unit can be defined as the fully functional and autonomous unit of a business entity or firm, which is typically being operated independently and is saddled with the responsibility of producing a unique range of products and services.
This ultimately implies that, a strategic business unit has its own objectives, vision, mission, goals and direction.
Communicating public information messages internally to the workforce is important because it allows the PIO to: A. Enlist support and involvement of organization personnel while communicating a consistent message B. Demonstrate commitment to the organization C. Test the message on a " safe" audience D. Add to the measurable statistics
Answer:
A. Enlist support and involvement of organization personnel while communicating a consistent message
Explanation:
The PIO (public information officer) is responsible for managing communications with the media, public and other agencies regarding information on incidents. The PIO coordiantes information between the incident commander and the staffs and between the emergency operations center. The communication and coordinating of information internally is important because it allows for organization personnel involvement and leads to dissemination of a consistent information
Megan is a salesperson for a company that manufactures chemicals. While reviewing her new leads, Megan learned that two of them just signed contracts with one of her company's major competitors. Which of the following best describes why Megan will not consider these two leads as sales prospects?a. They do not have the budget or financial resources to purchase the product.b. They do not have a need for the products or services her company is offering.c. They are too busy to meet with salespeople.d. They do not have the authority to make a purchase decision.e. They are not in her company's target market.
Answer: They do not have a need for the products or services her company is offering.
Explanation:
From the question, we are informed that Megan is a salesperson for a company that manufactures chemicals and that while reviewing her new leads, she learned that two of them just signed contracts with one of her company's major competitors.
Megan will not consider these two leads as sales prospects because they do not have a need for the products or services her company is offering. This is because they signed a contract with their competitors.
An investigator proposes to study a market approved product sold to treat high blood pressure in individuals over age 12. This study will look at using a liquid formulation for children under age 12. The drug sponsor hopes that the information from the research can be used to change the labeling for use of the drug in children. Which of the following is the investigator’s most appropriate course of action?
A) Submit the research protocol to OHRP for their review
B) Submit the research protocol to the IRB, but do not submit an IND application to the FDA since the drug is already approved and marketed for this indication.
C) Submit the research protocol to the IRB for review and submit an IND application to the FDA before conducting research.
D) Submit an Investigational Device Exemption (IDE) application to the FDA.
Answer: Submit the research protocol to the IRB for review and submit an IND application to the FDA before conducting the research
Explanation:
From the question, we are informed that an investigator proposes to study a market approved product sold to treat high blood pressure in individuals over age 12 and that this study will look at using a liquid formulation for children under age 12.
We are further told that the drug sponsor hopes that the information from the research can be used to change the labeling for use of the drug in children.
The investigator’s most appropriate course of action will be to submit the research protocol to the IRB for review and submit an IND application to the FDA before conducting research.
A company has $102,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. Experience suggests that 6% of outstanding receivables are uncollectible. The current balance (before adjustments) in the allowance for doubtful accounts is a(n) $920 debit. The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for:
Answer:
$7,040 credit
Explanation:
Based on the scenario being described, the journal entry would be a $7,040 credit. This can be calculated by accounting for the desired balance in allowance account which would be the outstanding account receivable times the uncollectable percentage in decimal form (0.06) like so...
$102,000 × 0.06 =$6,120 credit
Finally, 920 is debited to that amount which sums it up to $7,040 credit ($6,120 + 920 )
Which husband and wife team conducted time and motion studies, worked for General Electric to develop foot-pedal trash cans and redesign shelves in refrigerators, and had their lives documented in the book Cheaper By the Dozen
Answer:
Lillian and Frank Gilbreth.
Explanation:
Lillian and Frank Gilbreth are the husband and wife team that conducted time and motion studies, worked for General Electric to develop foot-pedal trash cans and redesign shelves in refrigerators, and had their lives documented in the book Cheaper By the Dozen.
They coined the word "Therblig" in order to identify the basic elements of human activity and motion in the study of time and motion which is typically aimed at improving the productivity and efficiency of workers while reducing fatigue simultaneously.
AARP is a powerful political interest group that also maintains a lucrative business providing health and life insurance to its members. What does AARP's strategy suggest about an interest group's ability to secure financial stability
Answer:
In simple word, The given case relates to the practice of saving the lobbying interest by the political groups using monetary transaction and rules. It is beneficial for such a lobby group to set up a non-profit company.
Community groups can gain financial security by establishing non-profit organisations inside the organization. AARP uses the money from its insurance company to fund its legislative activities.
Total value systems work best if
Multiple Choice
1. logistics is outsourced.
2. all parts are strategically leveraged.
3. individual elements focus on success.
4. the process is outsourced.
5. the process is completed in-house.
In the international business world, the logistics function manages the global supply chain. The twin objectives of logistics are to manage a firm's global supply chain at the lowest possible cost and in a way that best serves customer needs.
The potential for reducing costs through more efficient logistics can be achieved by using the just-in-time (JIT) inventory method as well as web-based information systems for modern materials management.
Answer:
The correct answer is B)
Explanation:
A Total Value System works best if all components of the system are leveraged strategically.
A Total Value System is the sum of business and or corporate entities and the value-adding operations which are involved in the creation of the final product and or service to a consumer.
To strategically leverage the total value system means to ensure that each firms activity:
Support the key operations of one anotherand that each activity plugs the weaknesses of the otherThe efficiency of a properly leveraged network of value systems is reflected in the time taken and cost of value each activity.
Cheers!
The _________________ is an accounting method that (a) estimates bad debts expense from credit sales during the period sales are recognized, and (b) reports accounts receivable at the estimated amount of cash to be collected. Multiple Choice Adjustment method for uncollectible debts.
Answer:
A) Allowance method of accounting bad debts
Explanation:
Based on the allowance method, the bad debts should be calculated on either credit sales i.e. income statement method or receivable aging method i.e. balance sheet method. Also, the account receivable should be recognized at net realizable value
Therefore the allowance method of accounting bad debts is an answer
Cat's Coaster Company uses cork in all of the protective drink coasters that it manufactures. If Cat's enters into an agreement with a cork exporter from Portugal to purchase all of the cork it needs to produce its products, this would be Multiple Choice a requirements contract. a necessities contract. an output contract. an input contract.
Answer:
a requirements contract
Explanation:
Since in the question it is mentioned that the company used its cork for the protective drinks and if Cat comes into an agreement with a cork exporter in order to buy all of the cork that is required to manufacture the products. This would represent the requirement contract
As the requirement contract is the contract in which the purchased agrees to buy all the goods that are required from a seller
Assume that a U.S. firm considers investing in British one-year Treasury securities. The interest rate on these securities is 12%, while the interest rate on the same securities in the U.S. is 10%. The firm believes that today's spot rate is an appropriate forecast for the spot rate of the pound in one year. Based on this information, the effective yield on British securities from the U.S. firm's perspective is:
Answer:
equal to the british interest rate
Explanation:
Data provided in the question
The Interest rate on these securities = 12%
In the U.S, the interest rate = 10%
Also the spot rate for today would become suitable for the spot rate
Based on the above information, the effective yield on the british securities would be equivalent to the british interest rate and hence the same is to be considered
The country of Cadmia is known around the world for the high-quality wine it produces. Consumers who do not know much about wine tend to rate the wines from Cadmia more favorably than the wines from Chile, even when independent analysis shows that Cadmian wines are actually inferior. Which of the following barries to international communication provides an explanation to this situation?A) Filter effects
B) Cultural barriers
C) Country of origin effects
D) Pull effects
E) Power distance
Answer:
C) Country of origin effects
Explanation:
In the above scenario, it is clear that the barriers to international communication provide an explanation for this situation is the effect of the country of origin.
This effect is caused by a psychological phenomenon of associative image very well positioned to a certain country and a specific brand, product or attitude, which causes the bias of nationality, that is, the knowledge with which people perceive such a product of origin. a country that has the image positioned as Cadmia, which is the country known throughout the world as the country that manufactures high quality wines, this will be a significant influence that will make consumers prefer to consume such products.
IMG operates divisions for athlete management services, event management services, licensing, broadcasting (both production and negotiation), Internet consulting, and marketing and consulting services. This firm covers the entire gamut of sport event and athlete functions. As such, IMG is known as A. an incorporated agency. B. a full-service agency. C. an in-house agency. D. a specialized agency.
Answer:
Full service agency.
Explanation:
Agencies in this form or field are said to be a resources management stronghold to a companies all forms of online presence. They have a primary role of advertising agencies which is known to be the creation of an advertising and marketing plan specific to your business, product and brand. Advertising agencies generally work with your business objectives by keeping the advert budgets and develop advertising and marketing campaigns to satisfy business needs. There are different online platforms that can be managed by this agencies for the company. They handle works like graphic designs, copy writing, business email management, printing, attending to the company fax etc.
