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forsale [732]
3 years ago
9

A situation in which financial or other personal considerations have the potential to compromise or bias professional judgment a

nd objectivity is an example of: fraud
Business
1 answer:
STatiana [176]3 years ago
3 0
The circumstance is called Conflict of Interest. It is a circumstance in which a man or association is engaged with various interests, money related or else, one of which could degenerate the inspiration or basic leadership of that individual or association.
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Landor Appliance Corporation makes and sells electric fans. Each fan regularly sells for $40. The following cost data per fan is
olga55 [171]

Answer:$50

Explanation:

3 0
3 years ago
Butte sold a machine to a machine dealer for $50,000. Butte bought the machine for $55,000 several year ago and has a claimed $1
pishuonlain [190]

Answer:

c. $7,500 ordinary gain  

Explanation:

Depreciated value of Machine = $55,000 - $12,500  

                                                   = $ 42,500

Sale price of Machine = $ 50,000

Gain on sale of Asset = $ 50,000 - $ 42,500

                                    = $ 7,500

Therefore, The amount and character of Butte's gain or loss is $7,500 ordinary gain.  

6 0
3 years ago
Wang Company began operations on January 1, 2018, by issuing common stock for $70,000 cash. During 2018, Wang received $88,000 c
posledela

Answer:

Wang Company

Statement of financial position

Equity and liabilities

Issued share capital  $70,000

Retained earnings     $45,000

                                   115,000

Assets

Non-Current assets

Fixed assets               $22,000

Current assets

Cash in hand               $93,000

                                     $115,000            

Wang company

Income statement

Net sales                      $88,000

Cost of sales                 $38,000

Gross margin                $50,000

Less:admin expenses   $5,000

Net Profit                       $45,0000

3 0
3 years ago
Which of the following best describes horizontal analysis? comparing financial statement amounts from year to year for the same
iren [92.7K]

Answer:

Comparing financial statement amounts from year to year for the same company

Explanation:

When you carry out a horizontal analysis of the financial statements of a corporation you compare how the different accounts have changed over a period of time.

For example, you can perform a horizontal analysis to determine how total costs affect net profits in the income statement. You take the 2017, 2018 and 2019 income statements and compare how total costs have evolved during that period or time, and what percentage do they represent of total revenue.

5 0
3 years ago
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2020, the fi
Dimas [21]

Answer:

                                Quik Furniture Company

              Production cost report - Sanding department

                         Month ended on March 31, 2020

Units                           Physical units                   Equivalent units

                                                                Materials                 Conversion          

Units started                    9,240

<u>in production                                                                                              </u>

Completed and               6,240

transferred out

<u>Work in progress                                       3,000                          600      </u>

Total units                       6,240                 3,000                          600

accounted for

Costs                                          Direct               Conversion       Total

                                                   materials          costs

Beginning WIP                              $0                     $0                     $0

Costs added during                  $36,960           $51,642            $88,602

<u>period                                                                                                           </u>

Total costs                                 $36,960           $51,642            $88,602  

Cost per unit                                  $4                  $7.55                 $11.55

                                                  (9,240 u.)         (6,840 u.)       (finished u.)

5 0
3 years ago
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