Answer: Bond holders
Explanation: In simple words, bondholders refers to the creditors of the organisation. The holders of the bond are not the owners as they are paid fixed interest and are not able to participate in the decision making of the company.
In the event of liquidation, bondholders are paid first because it is assumed that the decision makers should be punished for the liquidation and hence they should be paid at last.
I think the answer is either a or c
The deadweight loss is $90.6.
<h3>How to calculate the loss?</h3>
The study suggested that the average recipient's valuation of the gift received was approximately 90% of the actual purchase price of the gift.
This means there's a loss of 10% in value constitute the deadweight loss.
Average amount spent on gift = $906
Percentage loss in value = 10% or 0.10
Calculate the deadweight loss -
= Average amount spent on gifts * Percentage loss in value
DWL = $906 * 0.10
The deadweight loss would be $90.6.
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A study by university of minnesota economist, joel waldfogel, estimated the difference in the actual monetary value of gifts received and how much the recipients would have been willing to pay to buy them on their own. the study suggested that the average recipient’s valuation was approximately 90% of the actual purchase price.
Calculate the deadweight loss if the average amount is $906.
In order to preserve independence, Michael must "Remove himself from the engagement as he considers the offer." (Option B). It is to be noted that this is an internal control problem.
<h3>
What is Independence in this case?</h3>
The absence of situations that jeopardize the internal audit activity's capacity to carry out internal audit tasks objectively is called Independence.
Practically, independence is achieved by ensuring that the internal audit activity has no management control for any of the organization's non-audit functions that are subject to internal audit assessments, and by distancing the internal audit activity's management from the functional oversight of the organization's senior management.
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Full Question:
Michael was on the ABC Accounting Firm's audit team for the Rasmussen Corporation audit. Rasmussen's officers were so impressed with Michael that they offered him a job as Director of Internal Audit at Rasmussen. What should Michael do in order to preserve independence?
A) Tell his superiors as soon as he has decided whether or not to accept the offer.
B) Remove himself from the engagement as he considers the offer.
C) Pray for divine guidance.
D) If he decides to reject the offer, remove himself permanently from the engagement.
Electricity consumed in the manufacturing process is inventoriable cost per unit using variable costing.
Variable costing is that concept which is used in managerial and cost accounting. In this type of costing the fixed manufacturing overhead is excluded from the product-cost of production.
The method contrasts with absorption costing, in which the fixed manufacturing overheads are allocated to products which are produced. In accounting frameworks such as GAAP and IFRS, variable costing cannot be used in financial reporting.
Although accounting frameworks such as GAAP and IFRS prohibits the use of variable costing in financial reporting, this costing method is commonly used by managers.
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