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Katen [24]
3 years ago
11

Craig thorne works in a public accounting firm and hopes to eventually become a partner. the management of allnet company invite

s thorne to prepare a bid to audit allnet's financial statements. in discussing the audit fee, allnet's management suggest a fee range in which the amount depends on the reported profit of allnet. the higher the profit, the higher will be the audit fee paid to thorne's accounting firm. what are the ethical factors in this situation
Business
1 answer:
Tamiku [17]3 years ago
4 0
The ethical factors would be if Craig conforming to Allnets' offer, he would potentially cause misinformation to to shareholders of allnets. that could cost them a lot of money. Of course, technically speaking, conforming to the offer would basically guarantee Craig's position as a partner, but he need take the risk of breaking the law.

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Purple swift manufactures birdhouses in lots of 1010. each birdhouse takes 4545 minutes to paint. after 1010 birdhouses are​ pai
Varvara68 [4.7K]

Utilization can be calculated using the formula utilization = average output rate / maximum capacity.

Utilization = number of lots x setup time + processing time x number of units / number of hours per day x working days per year  

Utilization = [200 x 1 + (45/60) x 2000] / (8 x 215)  = 1700 / 1720 

Utilization = 0.9884   

The utilization is 0.9884 or 98.84%. capacity cushion can be calculated by subtracting the utilization from 1. The capacity cushion is 0.01163 or 1.17%

6 0
2 years ago
London corp. issued 1,000 shares of stock for $20 per share. what are the effects of this transaction?
Anarel [89]

Based on the fact that London Corp, issued 1,000 shares at $20 per share, the effects of this transaction are:

  • Increase in cash
  • Increase in common stock

<h3>What happens when stock is issued?</h3>

When stock is issued newly, the stock will be sold for cash which in this case is;

= 1,000 x 20

= $20,000

This means that cash in the company has increased.

Something else that will increase is the common stock. This is the account where the value of the issued stock will go to.

Find out more on stock issuance at brainly.com/question/25562729

#SPJ1

8 0
1 year ago
Landow Company uses variable costing for internal purposes and wants to restate income to that of absorption costing for externa
Soloha48 [4]

Answer: 665000

Explanation:

N/a

7 0
3 years ago
How is a monopolistically competitive market similar to a perfectly competitive​ market? A. Producers with market power set thei
Anna [14]

Answer:

c

c

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.

An example of monopolistic competition are restaurants  

When firms are earning positive economic profit, in the long run, firms enter into the industry. This drives economic profit to zero

If firms are earning negative economic profit, in the long run, firms leave the industry.  This drives economic profit to zero

in the long run, only normal profit is earned

A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.

An example of a monopoly is a utility company

4 0
2 years ago
If a decrease in income leads to an increase in the demand for sardines then sardines are?
frosja888 [35]

If a decrease in income leads to an increase in the demand for sardines then sardines are an<u> inferior good.</u>

What is demand?

Demand can be defined as the amount of goods consumer are ready and willing to buy at a particular period of time.

On the other hand an inferior good occur when a product that is highly in demand begin to fall or drop because the people does not demand for the product again and this can happen when income rises.

Therefore If a decrease in income leads to an increase in the demand for sardines then sardines are an<u> inferior good.</u>

Learn more about demand here:brainly.com/question/1245771

#SPJ1

7 0
1 year ago
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