Answer:
$1,290,000
Explanation:
Given that,
Cash flow to creditors = -$85,000
Cash flow to stockholders = $170,000
Firm’s net capital spending for 2018 = $1,250,000
Firm reduced its net working capital investment by $45,000
Cash Flow from Assets:
= Cash Flow to Creditor + Cash Flow to Stockholders
= -$85,000 + $170,000
= $85,000
Cash Flow from Assets = OCF - Net Capital Spending - Change in Net Working Capital
$85,000 = OCF - $1,250,000 - (-$45,000)
OCF = $85,000 + $1,250,000 - $45,000
= $1,290,000
Answer:
C) The court will apply the predominant-purpose test to determine whether the predominant purpose of the contract was the sale of goods in which case the UCC would apply.
Explanation:
From the case it is clear that the contract happens between Beau and the Manager of XYZ is of selling the carpet only. The service on the other hand, is not a department of UCC. The service contracts are department of common law whereas sales of goods law is applied to UCC or Uniform Commercial Code. So, except this option, all other options are false.
Answer:
The correct answer is letter "B": equity multiplier.
Explanation:
The Equity Multiplier is a simple proportion used to calculate the financial leverage of the company. <em>The Equity Multiplier ratio is calculated by dividing the total assets by total equity</em>. When the company purchases major assets it can fund such acquisitions through debt or stock issuance. A high Equity Multiplier indicates that the company used more debt than equity to finance its purchases of assets.
In order to preserve independence, Michael must "Remove himself from the engagement as he considers the offer." (Option B). It is to be noted that this is an internal control problem.
<h3>
What is Independence in this case?</h3>
The absence of situations that jeopardize the internal audit activity's capacity to carry out internal audit tasks objectively is called Independence.
Practically, independence is achieved by ensuring that the internal audit activity has no management control for any of the organization's non-audit functions that are subject to internal audit assessments, and by distancing the internal audit activity's management from the functional oversight of the organization's senior management.
Learn more about internal control:
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Full Question:
Michael was on the ABC Accounting Firm's audit team for the Rasmussen Corporation audit. Rasmussen's officers were so impressed with Michael that they offered him a job as Director of Internal Audit at Rasmussen. What should Michael do in order to preserve independence?
A) Tell his superiors as soon as he has decided whether or not to accept the offer.
B) Remove himself from the engagement as he considers the offer.
C) Pray for divine guidance.
D) If he decides to reject the offer, remove himself permanently from the engagement.
Answer:
Boolean expression.
Explanation:
Boolean algebra provides the operations and the rules for working with the set {0, 1}. In computer science, a Boolean expression is an expression in a programing language that produces a Boolean value when evaluated i.e. one of true or false.
Each Boolean expression represents a Boolean function. The values of this function are obtained by substituting 0 and 1 for the variables in the expression.
Are used mostly with while loops, and conditional statements and can be contrasted with arithmetic expressions which are expressions that evaluated to a number.
These expressions are made up of the three logical operators (AND, OR, NOT), the relational operator (> >= < = = <>) and functions that return true or false.
