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katrin2010 [14]
3 years ago
5

For each of the following entities, identify if the entity would be governed by GASB standards by selecting a "G", FASB standard

s by selecting an "F", or FASAB standards by selecting an "FB". (Hint: Search the website of the entity listed if you are unsure.)
1. Your university
2. Department of Defense
3. American Institute of Certified Public Accountants
4. The county in which you live
5. Internal Revenue Service
6. Mayo Clinic
7. New York City
8. American Cancer Society
9. Metropolitan Washington Airports Authority (operates the Washingtorn, DC, airports)
10.The Metropolitan Museum of Art, New York City
Business
1 answer:
UkoKoshka [18]3 years ago
8 0

Answer:

1. Your university: F

2. Department of Defense: FB

3. American Institute of Certified Public Accountants: F

4. The county in which you live: G

5. Internal Revenue Service: FB

6. Mayo Clinic: F

7. New York City: G

8. American Cancer Society: F

9. Metropolitan Washington Airports Authority (operates the Washingtorn, DC, airports): G

10.The Metropolitan Museum of Art, New York City: F

Explanation:

GASB is an acronym for Government Accounting Standards Board (GASB) and it's mainly a private, non-governmental organization (NGO) that is saddled with the responsibility of developing and creating reporting standards used in accounting such as the Generally Accepted Accounting Principles (GAAP) for local and state government in the United States of America since 1984.

FASB is an acronym for Financial Accounting Standards Board (FASB) and it's an autonomous non-profit agency which through the use of Generally Accepted Accounting Principles (GAAP), is saddled with the responsibility of establishing and maintaining accounting and financial reporting standards for all firms, business enterprises, and as well as nonprofit organizations doing business in the United States of America. It has its headquarter in Norwalk, Connecticut, United States and was founded in 1973.

FASAB is an acronym for Federal Accounting Standards Board (FASAB) and it's a federal advisory committee which is solely responsible for the development of accounting standards for government agencies in the United States of America. It also is responsible for setting the Generally Accepted Accounting Principles (GAAP).

It has its headquarter in Washington DC and was founded in October 1990.

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Answer:

The store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66.

Explanation:

In statistics, a confidence interval is the probability that the parameter of a population lies between two set of values when a random sample of the population is drawn for a specific percentage of times. This means that the confidence interval is formed about the whole population not the sample from which it is calculated.

The probabilities of a confidence interval can take any number, but 95% and 99% confidence level that are usually used.

It should be noted that, for example, 95% confidence level implies that there is a 95% chance that the true mean of the population lies within the calculated confidence interval.

Therefore, the statement which gives a valid interpretation of the interval in the question is the first one which states that "the store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66."

I wish you the best.

4 0
3 years ago
Batista Company management wants to maintain a minimum monthly cash balance of $19,900. At the beginning of April, the cash bala
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Answer:

the amount must be borrowed is $8,900

Explanation:

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Cash balance after disbursements $11,000

Minimum monthly cash balance $19,900

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3 years ago
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Answer:

X is $30,000

Explanation:

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Amount of Loan = Car price - Down payment = $100,848 - $30,000 = $70,848

This is the situation of annuity payment for 4 years at a 25% interest rate with equal annuity payment each year.

Now we will use the following formula to calculate the value of X

PV of Annuity = Annuity payment x ( 1 - ( 1 + interest rate )^-numbers of years ) / Interest rate

Where

PV of Annuity = Amount of Loan = $70,848

Interest rate = 25%

Numbers of years = 4 years

Annuity Payment = X = ?

Placing values in the formula

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6 0
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Answer:

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2. Direct material cost

3. Direct labor cost

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5. Machine hours

When he mentions the Production Units, he refers to the product or merchandise produced by the company, that is, what is intended for sale, in which this method is used is very simple, since the information on the units produced is readily available. to apply indirect manufacturing costs. It is based on the unit of finished product.

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