Answer:
(b) selecting and training new hires at the firm
Explanation:
Circular 230 requirement states that a practitioner must exercise due diligence in respect of those matters which relate to preparing, approving and filing tax returns or any other paper to Internal Revenue Services(IRS).
Due Diligence basically means to ensure that actions and information supplied are correct and not false.
So basically it extends to oral or written representations made to IRS or to a client in respect of matter which are administered by IRS.
Selecting and training new hires at the firm does not relate to IRS.
The correct answer to fill in the blank is product extension.
Answer:
Correct answer is D.
$4375
Explanation:
Amortization of actuarial gain or losses = Net actuarial gain/remaining service life
= 87500/20
Amortization of actuarial gain = $4375
Conversion cost is defined as the sum of direct labor costs and manufacturing overhead costs. It is the manufacturing cost needed to convert raw materials to a product. From the information given above, the conversion cost is the summation of direct material costs, direct labor costs and factory overhead costs.
$3000,000 + 7,000,000 + 5,000,000 = 15,000,000
Therefore, the conversion cost is $15,000,000.
