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vladimir1956 [14]
3 years ago
11

. Identify and explain two principles for ethical accounting practice

Business
1 answer:
Makovka662 [10]3 years ago
4 0

The revised Code establishes a conceptual framework for all professional accountants to ensure compliance with the five fundamental principles of ethics:

Integrity.

Objectivity.

Professional Competence and Due Care.

Confidentiality.

Professional Behavior.

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Exercise 13-07 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in mill
spin [16.1K]

Answer:

See below

Explanation:

Data given

Cash and cash equivalents $760 $77

Accounts receivables net $2,080 $1,890

Inventory $830 $810

Other current assets $440 $433

Total current assets $4,110 $3,210

Total current liabilities $2,100 $1,590

Net credit sales $8,258

Cost of goods sold $5,328

1. Current ratio = Current assets/Current liabilities

= 4,110/2,100

= 1.96

2. Accounts receivable turnover = Credit sales/Average accounts receivables

= 8,258÷ [(2,080+1,890)/2]

= 8,258 ÷ 1,985

= 4.16 times

3. Average collection period = Average accounts receivables/Credit sales × 365 days

= (1,985/8,258) × 365

= 87.7 days

4. Inventory turnover = Cost of goods sold/Average inventory

= 5,328/[830 + 810)/2]

= 5,328/820

= 6.5 times

5. Days in inventory = Average inventory/Cost of goods sold × 365

= (820/5,328) × 365

= 56.2 days

3 0
2 years ago
A client/server network is an example of ________ administration
sladkih [1.3K]
<span>A client/server network is an example of Central administration
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4 0
3 years ago
Why is compounding interest monthly better than yearly ?
dalvyx [7]

Answer:

More interest payments on yearly computing.

Explanation:

It is generally said that if you can get monthly annual payments compared to yearly payments take it without a thought. This statement explains a lot; normally month payments are not available, but in some case they are. In annual payments, 12 months are compounded that is why it is higher rate compared to monthly. So, monthly payments are preferred

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Which of the following actions would likely raise life insurance premiums?
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Living a non-smoker its b
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When economists say that the Federal Reserve Banks are central banks, it means that multiple choice 1 the banks' policies are co
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Answer:

the policies are coordinated by the Federal Reserve Board of Governors is the correct answer.

Explanation:

4 0
2 years ago
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