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Evaluate the legal mechanisms that could have been used to recover assets through the civil and criminal justice systems.
Divide dividends into net income for each year. The result is termed the "dividend payout ratio." Did Home Depot's dividend payout ratio increase or decrease.
For many companies, these deferred compensation packages represent corporate liabilities that are not in the financial statements or even disclosed in the notes
Is there a way to "quantify" this type of information so that it can appear in the balance sheet as an asset to the firm?
On December 30, your boss asks you not to record the sales force's wages for the month of December because he won't be able to pay them until mid January.
Since exchange rates change every day, the amount of U.S. dollars to be paid on January 15, 2009, will likely be different than the originally recorded $70,000.
What should be done about the $350,000 that has been earned this year even though the cash was received last year?
What is the Foreign Corrupt Practices Act, and how is it important to financial reporting?
What are the four factors that might motivate a manager to attempt to manage earnings?
The Sarbanes-Oxley Act established the Public Company Accounting Oversight Board. Identify the duties of that board.
Do you believe that outside auditors (CPAs) who examine the financial statements of a company, while being paid by that company, can be truly independent?
What do you suspect is the relationship between the FASB and the SEC?
Although the case involved fraud, the type of accounting used was also questioned because it allowed the company to recognize profit before the actual sale.
As an auditor, you have discovered the following problems with the accounting system control procedures of Jim's Supply Store.
Should the internal auditor be assigned to audit the same office in which he recently worked? What problems could arise in this situation?
What factors should Pierson consider, and what inquiries should Pierson make in deciding whether to rely on Goff's work?
He believes that external auditors are independent and can make sure that financial statements are correct.
How can economists explain irrational behavior? What is the role of risk in decision- making? How does game theory explain strategic behavior?
What is the purpose of external auditors providing an opinion on a company's financial statements?
What is likely to happen to the price the monopolist charges, the quantity it produces, and the profit it makes? Use a graph to illustrate your answer.
If the crystals are government-owned or -regulated, what price should the government set for them?
How does Dave's entry into this market affect the market price? What happens to the number of shows that existing theaters will produce?
It was learned at the trial that the company overstated its inventory by moving inventory from store to store and counting the same inventory several times.
Why does the production possibilities frontier bow outward? Give an example of two goods for which this would be the case.
What is a positive economic statement? What is a normative economic statement? Provide an example of each.