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Sergeu [11.5K]
3 years ago
11

Which statement best describes how the International Ethics Standards Board for Accountants' (IESBA) Code impacts the U.S. accou

nting profession?a. CPAs in public practice in the U.S. are required to apply the IESBA code, evenif they don’t perform services outside the U.S. b. State boards of accountancy are required to adopt the IFAC’s rules within 90 days of an IESBA rule change. c. As a member body of IFAC, the AICPAs required to change its bylaws whenever the IESBA changes its rules. d. The AICPA is required to adopt ethics standards that are at least as restrictive as the IESBA rules.
Business
1 answer:
Vladimir79 [104]3 years ago
5 0

The AICPA is required to adopt ethics standards that are at least as restrictive as the IESBA rules.

Answer: Option D

<u>Explanation:</u>

IESBA stands for the international ethics standards board for the accountants. As clear from the full form, this board performs the activities of setting up the ethics which the accountants need to follow while they are performing their work of making the accounts.

This body is not a national level but established at an international level. The other body which is the AICPA also needs to adopt the rules which are as restrive as the ethics of the IESBA.

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Managers should avoid satisficing in the ____ stage of the managerial decision-making process.
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The answer is selecting an alternative. It is because it is not always satisfying or a guarantee of using an alternative in the stage of managerial decision making process because sometimes it won’t suit or will be helpful in solving the problem.

7 0
3 years ago
On December 31, after making a concerted effort, management determines that it will not be able to collect the $1,200 owed to it
OLga [1]

Answer:

See explanation below

Explanation:

The following will be selected in excel via the drop-down menus.

Dr; Account name = Bad debt expense/Dad debt written off $ 1200

Cr; Account name = Accounts Receivable $ 1200

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3 years ago
True or false most small business owners enjoy being part of a team
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4 0
3 years ago
Tracy Company, a manufacturer of air conditioners, sold 270 units to Thomas Company on November 17, 2021. The units have a list
coldgirl [10]

Answer:

November 17, 2021

Dr. Inventory              $81,000

Cr. Account payable $81,000

November 26, 2021

Dr. Account Payable $81,000

Cr. Discount Income $2,430

Cr. Cash                     $78,570

December 15, 2021

Dr. Account payable $81,000

Cr. Cash                     $81,000

Explanation:

Sales Amount = 270 units x $400 = $108,000

Discount = $108,00 x 25% = $27,000

Net Sales = $108,000 - $27,000 = $81,000

Terms of sale 3/10, n/30 means there is a discount of 3% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.

Payment made on

November 26, 2021

As the payment is made within discount period, so discount will be availed

Discount = $81,000 x 3% = $2,430

Cash received = $81,000 - $2,430 = $78,570

December 15, 2021

As the payment is made after discount period, so no discount will be availed.  Full payment of $81,000 will be made.

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3 years ago
If Johnny likes homework (H) but hates exercise (E), which of the following might best represent his utility function for homewo
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Answer:

b. u= h/e

Explanation:

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