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sleet_krkn [62]
3 years ago
8

An accountant is engaged to perform compilation services for a new client in an industry with which the accountant has no previo

us experience. How should the accountant obtain sufficient knowledge of the industry to perform the compilation service?
Business
1 answer:
irga5000 [103]3 years ago
7 0

Answer:

The options are given below:

A. By obtaining the most recent letter of credit from the entity's primary financial institution.

B. By consulting the AICPA guides, industry publications, or individuals knowledgeable about the industry.

C. By researching the entity's internet site and searching for current press releases.

D. By reviewing the predecessor accountant's work papers without the knowledge of the entity.

The correct option is B.

Explanation:

The AICPA (American Institute of Certified Public Accountants) refers to the association which develops and scores the Uniform Certified Public Accountants examination. The main purpose of the AICPA is financial accounting, therefore, the association will possess information about an industry in its guides.

The accountant can consult industry publications, as this is bound to possess information regarding the industry. Also, the accountant can consult individuals knowledgeable about the industry.

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Amazon Company uses predetermined departmental overhead rates based on direct labor cost to apply manufacturing overhead to jobs
Rom4ik [11]

Answer:

a. $270,000

Explanation:

Department A:

Manufacturing overhead=200% of direct labor

80000 = 200% of direct labor

So, direct labor = 80000/200%=$40,000

Department B:

Manufacturing overhead=50% of direct labor

So, Manufacturing overhead = 50%*60000=$30,000

Total manufacturing cost = Material cost + Labor cost + Manufacturing overhead

- Material cost = 50000+10000=$60,000

- Direct labor cost = 40000+60000=$100,000

- Manufacturing overhead = 80000+30000=$110,000

Total manufacturing cost = $60,000 + $100,000 + $110,000

Total manufacturing cost = $270,000

4 0
3 years ago
Do you believe the statement "perception is reality"? Why or why not?
Allisa [31]
I wholeheartedly agree and think it’s practically self-evident.

Here’s an excellent example from history.

For 28 years, the Berlin Wall separated East Berlin from West Berlin and was the most heavily militarized border crossing in the Western hemisphere. In 1989, during a press conference with western media, Gunther Schabowski was handed a note explaining a change in policy governing border crossing. Several discussions took place about making a show of opening the border between East and West Germany, but nobody informed Schabowski.

At the end of the press conference, he appears to have remembered the note belatedly, and read it verbatim—which was not what was intended. When asked about when the border would open, he assumed it was immediate.

The reality of course was that East Germany had no intention of opening the border, and certainly not immediately.

Within hours, the border crossing was practically buried under thousands of East Germans eager to be reunited with their families and other loved ones after 28 years on the press conference, which had been broadcast live.

The East Germans believed what they were told: Schabowski said immediately, and they intended to go immediately.

Border guards kept calling for instructions, until finally, they relented.

Perception became reality, and the border between East and West Berlin opened, spelling the de facto end of the separation of Germany.
273 viewsView 2 Upvoters · Answer requested by Never Wong
Related Questions (More Answers Below)
3 0
3 years ago
You've borrowed $20,000 on margin to buy shares in ixnay, which is now selling at $40 per share. your account starts at the init
zzz [600]

Answer:

a. will you receive a margin call?

No you wouldn't. You borrowed $20,000 on the margin which means that you invested $20,000 of your own money. You purchased 1,000 stocks (= $40,000 / $40) of ixnay at $40, and now the stock price is $35. This means that you lost $5,000, and you percentage on the margin = $15,000 / $35,000 = 43%. Since the maintenance margin is 35%, you are still in.

b. how low can the price of ixnay shares fall before you receive a margin call?

we can use the following formula = (1,000price - $20,000)/1,000price = 35%

350price = 1,000price - $20,000

$20,000 = 1,000price - 350price = 650price

price = $20,000/650 = $30.769 ≈ $30.77 or lower

3 0
3 years ago
Show how Cablevision can conduct an ROI analysis. Describe the information that the company should collect and how it should b c
Flauer [41]

Answer:

Explanation:

Cablevision can easily accomplish this by doing the following. First gather the number of sales of premium services and other products that non-trained individuals are accomplishing in a given time period (example, one month). Next, under the same conditions place the newly trained individuals and gather the same data from them (number of sales/subscribers gained, premium products, and other products). Finally, they would simply need to compare the difference in the number of sales to see if the training paid off. They would also need to calculate if the difference in sales surpasses the costs of training.

3 0
3 years ago
Autocratic leadership is effective in situations such as Multiple select question. working with new, unskilled workers working w
siniylev [52]

It should be noted that autocratic leadership is effective in situations such as A. working with new, unskilled workers.

<h3>What is autocratic leadership?</h3>

Autocratic leadership simply means a leadership style that has to do with individual control over the decisions of the other members.

Autocratic leadership is effective in situations such as working with new, unskilled workers. This is necessary for organizational goals to be achieved.

Learn more about leaders on:

brainly.com/question/12522775

8 0
3 years ago
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