Answer:
There are issues with Revenue recognition, Accrual basis of accounting and Cash basis of accounting.
Explanation:
The ethical issues are important to handle with care in business. The accountant has used accrual basis accounting technique in order to apply for a loan. The revised financial statements are prepared with accrual concept so that the company is successful in procuring loan. The revenue should be recognized when performance obligation is completed and the required services are rendered. The accrual concept states that the transaction should be recorded when it occurs regardless when the cash is actually received. Daryl has been involved in unethical practice as he has instructed his accountant to prepare revised financial statements to portray that the company's performance is good. It is an intention to deceive bank in order to procure loan.
Answer:
home country spendable
Explanation:
The term that is being mentioned in this question is known as home country spendable. Like mentioned, this is income that represents the specific part of the home-country income that the assignee uses in order to pay the day-to-day purchases, unless the cost of the goods/services is higher in the host location, in which case a compensation package needs to be added.
Answer:
Explanation:
The discount rate is the interest rates on loans that the Federal Reserves makes banks. Banks occasionally borrow from the Federal Reserve when they find themselves short on reserves. A higher discount rate decreases banks' incentives to borrow reserves from the Federal Reserve, thereby reducing the quantity of reserves in the banking system and causing the money supply to fall
The federal funds rate is the interest rate that banks charge one another for short term loans. When the Federal Reserve uses open-market operations to buy government bonds, the quantity of reserves in the banking system increases, banks' demand for borrowed reserves declines , and the federal funds rate decreases.
Answer:
The statement which is false is the no matter that whether perpetual inventory system or periodic system is used by company, but all the companies require to evaluate inventory quantities at the end of the accounting period.
Explanation:
The statement is false because the companies does not require to determine or assess the inventory quantities at each accounting period.
Therefore, the correct option is C.
A sales agent/license holder is a general agent of a broker/license holder. Both the broker and the sales agent typically become special agents of any client/principal. A broker and his sponsored sales agents are not agents of the client until an actual expressed agency relationship has been established. Until then, Horace is a customer.
A man or woman agent is one that has passed through considered necessary schooling, exceeded an exam, and been duly certified by IRDA to promote coverage policies to the general public and offer after-income providers along with helping on the time of a declaration. His license may be for life insurance, general insurance, or each.
182. 'Agent' and 'essential' are described. An 'agent' is a person hired to do any act for every other or to symbolize some other in dealings with 0.33 person. The person for whom such act is done, or who's so represented, is referred to as the 'fundamental'.
Standard Agent- Agent appointed to do all acts referring to a selected job. Sub-Agent-An agent appointed by way of an agent. Co-Agent- sellers together appointed to do an act together. Dealer- An agent whose process is to create a contractual date between two events.
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