Answer:
Recorder Amount: 315000
Land: 52500
Building: 192500
Equipment: 70000
Explanation:
Record the value with the lower of cost or fair value. Since the cost(cash price) is lower. We calculate the proportion of each asset using the fair value figures:
formula: percentage of each asset as a function of fair value multiplied by cash payment.
Total: 60000+220000+80000=360000
land=0.167(that is 60/360) * 315000 = 52500
Building=0.611 * 315000 = 192500
Equipment = 0.22*315000=70000
Answer:
Larson did not have actual or constructive knowledge of the misstatements.
Explanation:
When a CPA conducts an audit of a firm's statements, they do not give a guarantee that all the firm's statements are accurate. Larson CPA is only giving an opinion that the books of its clients follows the generally accepted accounting practices.
They should however not knowing give opinion on statements that they know is untrue.
So the best defense for Larson Associates is that they did not have actual or constructive knowledge of the misstatements. Since they do not guarantee that all statements of the client is accurate.
The conduct code or a manual basically has to define the ways in which people must act in the company.
Explanation:
Every company has a set of standards and how the work culture exists in their company.
This is often a direct inference of the practices of their company in the market and what their place is according to it.
It also depends on what industry the company is a part of.
Thus, the manual makes sure there is a directive way of understanding the rules of conduct of every worker within a company and even for the managers and executive there exists this way of understanding what it is about.
Answer:
D. All of these
Explanation:
Customers are always interested in putting/matching a face to an online business. In other words, it will be difficult to transact business with an ebusiness if the business owner is unknown, unavailable and not accessible. Also, customers tend to doubt ebusinesses with no track record easily determined by the verifiable testimonials of the previous customers.
A business owner who does not respond to customer enquiry online can be said to be available but inaccessible. Both availability and accessibility, as well as customer testimonials, are key to building trust in an ebusiness.
What would likely raise Olivia's reservation wage is if Olivia learns that the job is more challenging than she initially thought
Reservation price is the least amount of wage that a worker would be willing to accept for services rendered.
<em><u>Factors that lead to changes in reservation wages</u></em>
- Finances: a worker that is in debt or in desperate need of money would have a lower reservation wage when compared with a person that is debt-free. For example, the reservation wage of a billionaire would be higher than the reservation wage of an homeless individual.
- Nature of the job: the more challenging a job is, the higher the reservation wage that would be demanded by a worker.
- Length of unemployment: the longer a person has been unemployed for, the lower the reservation wage.
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