D) professionals should always act in the best interest of their clients.
This statement is ethical because it promotes doing your job in an ethical way, which is not doing things for your benefit, but for that of your client.
Answer:
The number and characteristics of sellers and buyers is called market structure.
Explanation:
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Option B, The predetermined overhead allocation rate is based on actual costs.
Explanation:
The term "pre-set overall rate" refers to the allocation rate at the outset of a project, which is based on the expected cost of overhead output for a certain reporting period.
This rate is often used to make book closure quicker as it eliminates estimation of real overhead costs as part of the closing process at the end of the period. Nevertheless, at least at the end of every fiscal year, the disparity between the real and expected overhead sums must be reconciled.
The predetermined rate is derived by calculation as follows:
Estimated amount of manufacturing overhead to be incurred in the period ÷ Estimated allocation base for the period
Answer:
The purpose of this is to increase economic stability.
Answer:
The amount of stockholders' equity as of July 1 of the current year is $39,994
Explanation:
In John Wong, DVM, on July 1 of the current year:
Total asset = Cash + Accounts Receivable + Supplies + Land = $10,687 + $8,307 + $1,853 + $24,857 = $45,704
Liabilities = Accounts Payable = $5,710
Basing on accounting equation:
Total asset = Liabilities + Stockholders' Equity
Stockholders' Equity = Total asset - Liabilities = $45,704 - $5,710 = $39,994