Answer:
As earnings naturally represent the managements ability and success, earnings is the item that is most prone to be misrepresented.
we know that projections are forecasts that are never 100% correct and these projections are extremely sensitive to macro environmental factors.
Financial statement fraud refers to intentional, fraudulent misrepresentations and miscalculations in the financial statement accounts, balances and cash flows. such fraudulent alterations are usually done at the accounts level and in those accounts and transactions.
Disclosure fraud refers to fraudulent activities and misrepresentations that are done by not including balances, hiding real figures and not disclosing essential and material items that are necessary to be disclosed.
Explanation:
Answer: The correct answer is "C. An activity-based approach refines a costing system by focusing on individual activities as the fundamental cost objects. It uses the cost of these activities as the basis for assigning costs to other cost objects such as products or services.".
Explanation: The ABC costing model is a model that is based on the grouping into cost centers that make up a sequence of value of the products and services of the company's productive activity. It focuses its efforts on managerial reasoning in an adequate way the activities that cause costs and that are related through its consumption with the cost of the products. The most important thing is to know the generation of costs to obtain the greatest possible benefit from them, minimizing all the factors that do not add value.
The meaning of making "difficult choices" when creating a federal budget is: D. deciding what will be funded and what will be cut.
<h3>What is a federal budget?</h3>
A federal budget refers to a financial plan that is typically used by the government for the estimation of the revenue (taxation) and expenditures (spending) of a country over a specified period of time, which is often one year.
This ultimately implies that, making "difficult choices" when creating a federal budget simply means to decide what will be funded by the government and what will be cut from the budget.
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Answer:
Unitary cost= $12.30
Explanation:
Giving the following information:
Overhead rate:
Rate 1= 150% of material costs
Rate 2= $7.25 per direct labor hour.
Production:
540 neckties
raw materials= $2,110
Direct labor hours= 69 direct labor hours at a total cost of $865.
First, we need to calculate the total cost:
Total cost= 2,110 + 865 + (1.5*2,110 + 7.25*69)
Total cost= $6,640.25
Unitary cost= 6,640.25/540= $12.30
