Answer:
(Decrease, Increase)
Explanation:
When the government formulates and implements policies aimed at increasing equality, the society will experience a reduction in the level of efficiency. For example, an increase in income tax on wealthiest Americans, and redistribution of the tax revenue to the poorest Americans would may discourage the wealthy from taking more income-generating activities which create jobs, this is not optimal. At the same time, this policy would reduces the peoples’ incentive to work hard to earn their own money.
Answer:
1. To reduce the company's tax bill, Jack uses total cost to value inventory instead of using product cost as required by law.
- Competence: accounting records must follows applicable laws, regulations and standards, you must IRA and GAAP rules when preparing financial statements and tax reports.
2. Since Emilie works in the accounting department, she is aware that profits are going to fall short of analysts' projections. She tells her aunt to sell stock in the company before the earnings release date.
- Confidentiality: accounting records must b confidential unless you are authorized to disclose them, and you are not authorized to disclose the information to your aunt.
3. Veronica pays a Mexican official a bribe of $50,000 to allow the company to locate a factory in that jurisdiction so that the company can take advantage of the cheaper labor costs. Without the bribe, the factory cannot be located in that location.
- Integrity: you must abstain from performing illegal activities, and bribery is illegal.
4. There is a failure in the company's backup system after a system crash. Month-end reports will be delayed. Kayla, the manager of the division experiencing the system failure, does not report this upcoming delay to anyone since she does not want to be the bearer of bad news.
- Credibility: you must report all relevant and important information regardless of whether that information will make you bad or not.
<span>a narrow span of management implies that the height of the organization will be long; a wide span of management implies that the height of the organization will be short.
This is because in a narrow span of management, less people work under each manager and therefore, there will be more levels of hierarchy making the height of the organization longer and the vice versa applies.
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Answer:
COGS= $65,100
Explanation:
Giving the following information:
Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year:
Work in Process, January 1 $ 53,800
Work in Process, December 31 38,900
Total Factory overhead 7,400
Direct materials used 14,400
Direct labor used 28,400
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 53,800 + 14,400 + 28,400 + 7,400 - 38,900= 65,100
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= $65,100
Answer:
no cash was collected during the period
or
cash collections during the year are less than the amount of revenue recognized
Explanation:
For example if we had Accounts receivable beginning balance $ 250,000 and Sales of $ 500,000 are made on accounts then the Total Accounts receivable will be $ 750,000.
But out of the $ 500,000 sales only $300,00 cash is collected and the remaining $ 200,000 is still in the Accounts receivable balance so the ending Accounts receivable balance will be $ 250,000 + $200,000 = $ 450,000 which will be greater than beginning Accounts receivable balance.
So there are two possibilities either cash collections during the year are less than the amount of revenue recognized.
or
no cash was collected during the period.
Similarly it cannot be choice no 1 : collections during the period exceed the amount of revenue recognized
Because if more cash is collected then ending account receivable balance would be less than the beginning account receivable balance.
Choice no 3 is also wrong if cash collections are more than the ending accounts receivable balance would be less
