Among the statements this is true: Attorneys and teachers have the least amount of training.
These professionals require a lot of training in their field of work because they are always in the line of question. Lawyers have to perform in and out of the court, with or without their clients in question; while teachers have to perform and act in such manner that they are always held in high regard by people around them.
Answer:
Integrity
Explanation:
Computer Security
The security of computer systems are very important for any organizations. There is the need to secure the physical location of computer technology from outside threats. That is necessary actions are to be taken to preserve computer systems from losses.
CIA Triad
This is known to be the industry standard for computer security since the development of the mainframe. The standard is based on three characteristics that describe the utility of information: they are :
1. Confidentiality
2. Integrity,
3. Availability.
Integrity
This is simply refered to as a quality or an attribute of information that states or explain how data is whole, complete, and uncorrupted.
Answer:
Part A)
The eliminating entries are recorded only in the consolidation work paper and therefore do not change the balances recorded on the company's books. Each time consolidated statements are prepared the balances reported on the company's books serve as the starting point. Thus, all the necessary eliminating entries must be entered in the consolidation work paper each time consolidated statements are prepared.
Part B)
For acquisitions prior to the application of FASB 141R, the balance assigned to the non-controlling shareholders at the beginning of the period is based on the book value of the net assets of the subsidiary at that date and is recorded in the work paper in the entry to eliminate the beginning stockholders' equity balances of the subsidiary and the beginning investment account balance of the parent. For acquisitions after the effective date of FASB 141 R, the non-controlling interest at a point in time is equal to its fair value on the date of combination, adjusted to date for a proportionate share of the undistributed earnings of the subsidiary and the non-controlling interest's share of any write-off of differential. Another approach to determining the non-controlling interest at a point in time is to add the remaining differential at that time to the subsidiary’s common stockholder’s equity and multiply the result by the non-controlling interests proportionate ownership interest in the subsidiary
Part C)
In the consolidation work paper the ending balance assigned to non-controlling interest is derived by crediting non-controlling interest for the starting balance, as indicated in the preceding question, and then adding income assigned to the non-controlling interest in the consolidated income statement and deducting a pro-rata portion of subsidiary dividends declared during the period.
Part D)
All the stockholders' equity account balances of the subsidiary must be eliminated each time consolidated financial statements are prepared. Inter-company receivables and payables, if any, must also be eliminated.
Part E)
The "investment in subsidiary" and "income from subsidiary" accounts must be eliminated each time when the consolidated financial statements are prepared. Inter-company receivables and payables, if any, must also be eliminated.
When we use the IRS rule which states the standard deduction amount should be greater than $900 or the income earned by the taxpayer for the year in addition with $300 (should not be exceeding the regular standard deduction). Income earned by Toby is $2,897, then add
$300 into it.
The correct standard deduction amount would then be $3,197 ($2,897 +300)=$3197.
Standard deduction is the deduction given by the income tax authorities to the tax payer.
Internal revenue bulletin is the instrument used by the IRS for announcing all the rules.
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Answer:
Yes,it is a classic case of fraud as Thomas owes the buyer a duty of disclosure of material facts
Explanation:
Fraud
This is simply defined as act of deception. It is an act carried intentional by an individual to get an unfair advantage over another person.
The deceptive trade practices act
This is simply a federal law set up by government. It watches over business, making sure that fraud and misrepresentation do not take place when companies provide products and services.
In real estate, the seller required to tell the buyer about the property's condition and nothing should be left Thomas is guilty of fraud for covering up and not disclosing all conditions or state of the property.
The tests for disclosure outlined by the courts includes
1. The seller must not obstruct the buyer's attempts to inspect the property. The "as is" clause must be an important element of the contract.
2. The buyer and seller must not be in a relatively unequal bargaining position
All known defects must be disclosed by the seller