$477,600 of the headquarters cost allocation should Dallas expect to receive next year
Solution:
Cost allocation is a method of assisting the cost centres, which supply a product or service, of joint service organizations.
In effect, the corresponding costs are assigned to the cost centers of internal customers who consume goods and services.
General Service
(60% x $706,000) = $423,600
Research Service
(($139,900/ 559,600 min) x 216,000) =54,000
Total = $423,600 + 54,000 = $477,600
False. Consumer credit is a MAJOR force in the american economy, without consumer credit many business would not be able to exist, including banks.
During a financial statement audit an internal auditor may provide direct assistance to the independent CPA in performing both tests of controls and substantive tests.
<h3>What is audit ?</h3>
Audit is the checking or inspection of the account of the company in order to make sure a ll the transactions are recorded systematically and accurately. it is done to check the correctness of the accounts provided by the companies in the financial accounts.
During the auditing of financial statements, auditor provides helps to the Certified Public Accountant by performing both the test of control and substantive tests.
Learn more about Auditing here:
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Scarce resources are those resources that have limited availability in combination with greater productive uses. Time is a scarce resource as well as all have limited time in our life. In addition, out of the limited time we have, a significance portion of that time is spent on unproductive tasks such as sleeping, bathing among other tasks. As more and more time is spent on a given activity the opportunity cost of that activity in terms of other activities rises. Opportunity cost in this case is the benefit that a person could have received by involving himself in a given task, but gave up to take up another task.
