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PilotLPTM [1.2K]
3 years ago
9

Celeste's accountant fails to prepare her tax returns accurately, and Celeste is charged penalties and interest by the Internal

Revenue Service (IRS) and her state because of the error. In order to prevail in a lawsuit for negligence against her accountant Celeste must prove all of the following, except that:_______
a. her injury was proximately caused by the accountant's breach of the duty of care.
b. a duty of care existed.
c. she suffered financial harm.
d. the accountant was a member of a professional organization
Business
1 answer:
Gre4nikov [31]3 years ago
4 0

Answer:

Option D. The accountant was a member of a professional organization.

Explanation:

The reason is that for a successful claim under the negligence act, the claimant have to prove following three things:

  1. Duty of care existed between the relation
  2. She has suffered economic harm  &
  3. The harm was proximately caused by the accountant's breach of the duty of care.

So the accountant's membership is not a valid requirement under the negligence act for a successful claim.

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Which customers help in the profitability and growth of an organization?
IrinaVladis [17]
The customers that help the profitability and growth of an organization are those that purchase products consistently. You must sell a product to have a profit. Those customers who are serious about their health and purchase products to improve their health help companies remain profitable. When you use up a product, you have to buy more. This is repeat business and helps the company maintain profitability.
3 0
3 years ago
[The following information applies to the questions displayed below.]
Orlov [11]

Answer:

Pose-for-Pics

Effects on the accounting equation:

            Assets                                                 = Liabilities + Equity

Aug 1   Cash +$9,000 Equipment +$38,700 =  M. Harris, Capital +$47,700

Aug 2  Cash  -$2,300 Prepaid Insurance +$2,300

Aug 5  Cash    -$1,710 Supplies +$1,710

Aug 20 Cash +$2,650                                        = Revenue +$2,650

Aug 31  Cash  -$870                                            = Utilities Expense -870

Total assets   $49,480                                        = Total equity $49,480                                                                                    

Explanation:

a) Data and Analysis based on the accounting equation:

August 1 Cash $9,000 Equipment $38,700 M. Harris, Capital $47,700

August 2 Prepaid Insurance $2,300 Cash ($2,300)

August 5 Supplies $1,710 Cash ($1,710)  

August 20 Cash $2,650 Service Revenue $2,650

August 31 Utilities ($870) Cash ($870)

8 0
3 years ago
Ann Ellis is a systems analyst at CyberStuff, a large company that sells computer hardware and software via telephone, mail orde
Klio2033 [76]

Answer:

A) The use of both techniques ( i.e. questionnaire and Interview )

B)  The sampling method should include an equal number of workers from each shift, this is to ensure that every shift's opinion is broadly covered.

Explanation:

A) The best approach in resolving this problem is the application of both questionnaires and interviews, this is because the questions  will be covered in both the questionnaire and interview therefore a more detailed/accurate answer can be gotten by combining both processes

B) The sampling method should include an equal number of workers from each shift, this is to ensure that every shift's opinion is broadly covered.

6 0
3 years ago
The electric utility rate for a facility during the months of May through October is 4.5 cents per kilowatt-hour for energy, $11
Minchanka [31]

Answer: $11564

Explanation:

Total units consumed for August = 96000

There's a peak demand of 624kw

Also, the May through October is 4.5 cents per kilowatt-hour for energy.

The August electric bill will then be:

= 96000 × 4.5/100 + 624 × 11.50 + 68

= (96000 × 0.045) + (624 × 11.50) + 68

= 4320 + 7176 + 68

= 11564

4 0
3 years ago
Gem City's Internal Service Fund received a residual equity transfer of $50,000 cash from the General Fund.
Sergio039 [100]

Answer:

Gem City's Internal Service Fund received a residual equity transfer of $50,000 cash from the General Fund.

This $50,000 transfer should be reported in Gem's Internal Service Fund as a credit to;

D. Transfers.

Explanation:

An internal Service fund can be defined as a fund used in most governments to keep records of goods and services that are moved between departments on the basis of cost reimbursement. An example of an Internal Service fund is when one department offers goods and services to another department. In our case, the Gem City's Internal Service Fund received a residual equity transfer of $50,000 from the General Fund in form of cash. An equity transfer is the transfer of the ownership of shares from one entity to another. In this case from the General Fund to the Gem City's Internal Service Fund.

To record the transaction above, the residual equity transfer of $50,000 to the Internal Service Fund should be recorded as a debit to Cash and a credit to Transfers.  The reporting of Transfers is usually on a separate line in the Statement of Revenues and Expenses for the fund. It comes immediately after the line item: Operating Income/Loss before Transfers and Additions.

6 0
3 years ago
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