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3 years ago

Members should use the AICPA conceptual framework for independence to:

1 answer:

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Members should use the AICPA conceptual framework for independence to understand the rules on the confidential client information and acts discreditable to the profession.

Option C

Explanation:

Two conceptual frameworks, one each for participants in public accounting and one for participants in the sector, represent a major change to substance in the updated AICPA Code.

In all of these two implementation frameworks, the conceptual framework strategy is one way in which warnings to fully comply with rules arising from a specific connection or circumstance which are not covered by the code can be identified, assessed and addressed.

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Seo Yeon is a paid intern working for a small team of four software developers. Each member of the team is facing different dead

____ [38]

Answer: B. Seo Yeon should set up an internal market, allocating 10 hours per week to each team member and allowing them to trade hours among themselves over the course of a month.

Explanation:

From the options given in the question, the solution that is likely to best allocate her time between the four team members will be option B "Seo Yeon should set up an internal market, allocating 10 hours per week to each team member and allowing them to trade hours among themselves over the course of a month".

Since the teams have different deadlines, she should allocate her time equally to the four teams and help them out based on their deadlines as those with nearer deadlines should be helped first. We should also note that she shouldn't allocate the whole 40 hours to a particular team as that's not fair and can bring about disunity.

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3 years ago

"Lizard National Bank purchases a three-year interest rate cap for a fee of 2 percent of notional principal valued at $50 millio

Bingel [31]

Answer: $500,000

Explanation:

An Interest Rate Cap is a Derivative Financial Instrument that works by paying the buyer for every year that the interest rate ceiling is exceeded.

Using the scenario above this is how it's works,

There is an Interest Rate Ceiling of 11%.

Any year that index which is this case is the London Interbank Official Rate (LIBOR) exceeds the 11%, the seller will pay the buyer the difference between the LIBOR and the Interest Rate Ceiling.

The Notional Principal is the amount on which the interest is based.

That means that in Year 1 with a LIBOR of 9 percent, the seller does not pay.

Second year LIBOR is 12 percent, the seller will pay 1% (12% - 11%)

Third year LIBOR is 13 percent, the seller will pay 2% (13% - 11%)

Lizard National Bank had to pay 2% of the notional Principal as a fee.

The amount that Lizard Receives from the seller is therefore,

= Total Received - Fees

= (1% + 2% - 2%) * 50,000,000

= 1% * 50,000,000

= $500,000

The total payments received by Lizard, including the initial fee, are $500,000.

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4 years ago

The following are budgeted data: January February March Sales in units 16,000 22,000 19,000 Production in units 19,000 20,000 18

m_a_m_a [10]

Answer:

Purchases= 19,625 pounds

Explanation:

Giving the following information:

Production in units:

February= 20,000

March= 18,500

The inventory of materials at the end of each month should equal 25% of the following month's production needs.

<u>To calculate the purchases of raw materials, we need to use the following formula:</u>

Purchases= production + desired ending inventory - beginning inventory

Purchases= 20,000 + (18,500*0.25) - (20,000*0.25)

Purchases= 19,625 pounds

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3 years ago

To ________ means to make a good faith purchase of goods similar to those in the contract.

adoni [48]

“Cover” I’m pretty sure

6 0

3 years ago

Agnessa let the management of Acme Global know that she will retire next year. Agnessa job requires specialized skills. Rather t

Anettt [7]

Please see the complete question below.

Agnessa let the management of Acme Global know that she will retire next year. Agnessa job requires specialized skills. Rather than advertise the job, management has the human resource management department look through its files for people in the organization who have the needed skills. This recruitment method is known as ______.

A. open recruitment

B. employee referrals

C. closed recruitment

D. targeted recruitment

Answer:

The answer is closed recruitment (option C)

Explanation:

Closed Recruitment can be defined as the type of recruitment that takes place 'in house'. In other words, there is no need for an external advertisement of vacancy because candidates needed to fill in vacant job roles or positions of a firm are selected from the existing pool of employees in the firm. Firms carry out closed recruitment by looking into the files of people who have the skills needed to occupy the vacant role and selecting/appointing who is best fitted for the role.

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4 years ago