Question & Answer

Would this argument still hold if prices rose?

] Fred is considering using the accrual method for his next business venture. Explain to Fred the conditions for recognizing income for tax purposes under the accrual method.

If the sufferers had no property rights, show how it would still be in their interests to ‘bribe’ the firm to produce the socially efficient level of output.

: Describe the types of teams and the five contributions that teams make in organizations

Explain the causes and types of conflict within and among teams, and describe ways to reduce conflict.

If intangibles are acquired for stock, how is the cost of the intangible determined?

: Identify ways in which team size, diversity of membership, and team roles affect team performance.

Describe the kinds of regulations that are imposed on finance companies. (LO1)

What types of taxes qualify to be deducted as itemized deductions? Would a vehicle registration fee qualify as a deductible tax?

Through November, Cameron has received gross income of $120,000. For December, Cameron is considering whether to accept one more work engagement for the year. Engagement 1 will generate $7,000 of revenue at a cost to Cameron of $3,000, which is deductible for AGI. In contrast, engagement 2 will generate $5,000 of qualified business income (QBI), which is eligible for the 20 percent QBI deduction. Cameron files as a single taxpayer.

Is it in the interest only of workers (i.e. and not employers) to resist falls in real wage rates?

Remuneration disclosure The ASX Corporate Governance Principles and Recommendations set out rules to deal with enhanced management performance and effectiveness and requires disclosure of the process for performance evaluation of the board, its committees and individual directors and key executives. However, the outcomes of individual evaluations are not required to be disclosed.   Required Why do you think such a recommendation is included in the guidelines? (LO5)

Cullen Construction Company, which began operations in 2014, changed from the completed-contract to the percentage-of-completion method of accounting for long-term construction contracts during 2015. For tax purposes, the company employs the completedcontract method and will continue this approach in the future. The appropriate information related to this change is as follows. Pretax Income Percentage-of-Completion Completed-Contract Difference 2014 $880,000 $590,000 $290,000 2015 900,000 480,000 420,000 Instructions (a) Assuming that the tax rate is 40%, what is the amount of net income that would be reported in 2015? (b) What entry(ies) are necessary to adjust the accounting records for the change in accounting principle?

When is a debt security considered impaired? Explain how to account for the impairment of an available-for-sale debt security.

Could production and consumption take place without money? If you think they could, give examples.

Should all developing countries aim over the long term to become exporters of manufactured products?

What are some of the more common reasons why a bank may experience a low ROA? (LO3)

A direct extrusion operation produces the cross section shown in Figure P19.32(c) from an aluminum billet whose diameter = 150 mm and length = 500 mm. The flow curve parameters for the aluminum are K = 240 MPa and n = 0.16. In the Johnson strain equation, a = 0.8 and b = 1.2. Determine (a) the extrusion ratio, (b) the shape factor, (c) the force required to drive the ram forward during extrusion at the point in the process when the billet length remaining in the container = 400 mm, and (d) the length of the extruded section at the end of the operation if the volume of the butt left in the container is 600,000 mm3

To what extent do the costs used to value inventories for external financial reporting support internal management decisions on issues such as whether to accept a special, one-off order or whether to outsource part or all of the production process?

Credit default swaps were once viewed as a great innovation that could make mortgage markets more stable. However, these swaps have been criticized for making the credit crisis worse. Why? (LO7)

Explain the problems that arise in valuing mortgage-backed securities. (LO4)

What are the alternative forms of ownership of a savings institution? (LO1)

Explain how U.S. speculators could use foreign exchange derivatives to speculate on the expected appreciation of the Japanese yen. (LO4)

Paula could not reach an agreement with the IRS at her appeals conference and has just received a 90-day letter.  If she wants to litigate the issue but does not have sufficient cash to pay the proposed deficiency, what is her best court choice?

Briefly describe the origin of the Federal Reserve System. Describe the functions of the Fed district banks. (LO1)