Question & Answer

Adoption of fintech has occasionally resulted in cheaper financial service costs and more accessible financial goods and services. On the other hand, others could counter that adopting fintech comes with a cost because it necessitates owning cutting-edge technology that not everyone can afford. Do you think the financial system will be more inclusive as a result of fintech adoption, or will some marginalized groups still not be able to access those services? (LO1, LO4)

What is the main difference between the press-and-blow and the blow-and-blow shaping processes in glassworking?

Are there any shops in your area that stay open later than others? If so, does this affect the prices they charge? Why do you think this is?

What is the difference between a sales tax and a use tax?

On December 31, 2014, Alexander Company had $1,200,000 of short-term debt in the form of notes payable due February 2, 2015. On January 21, 2015, the company issued 25,000 ordinary shares for $36 per share, receiving $900,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2015, the proceeds from the share sale, supplemented by an additional $300,000 cash, are used to liquidate the $1,200,000 debt. The December 31, 2014, statement of financial position is authorized for issue on February 23, 2015. Instructions Show how the $1,200,000 of short-term debt should be presented on the December 31, 2014, statement of financial position.

What are the three mechanisms of grinding wheel wear?

What are the two basic types of control charts for attributes?

What are the three methods of performing the masking step in chemical machining?

Peggy is a rodeo clown, and this year she expended $1,000 on special “funny” clothes and outfits. Peggy would like to deduct the cost of these clothes as work-related because she refuses to wear the clothes unless she is working. Under what circumstances can Peggy deduct the cost of her clown clothes?

Try to formulate a definition of ‘the public interest’.

How does creep feed grinding differ from conventional grinding?

1.    : Is it reasonable to expect that managers can measure their social and environmental performance on the same level as they measure financial performance with a triple bottom line? Discuss.

1.      : Vote to reduce each of the three students’ penalties. Instead of a zero, each student will receive only half of the possible total points for the project, which would be an F. You’re still holding students responsible for the group project, but not imposing catastrophic punishment. This compromise both undercuts the professor’s policy and punishes “innocent” team members to some extent, but not as severely.

Jackie has a corporate client that has recently received a 30 day notice from the IRS with a $100,000 tax assessment.  Her client is considering requesting an appeals conference to contest the assessment.  What factors should Jackie advise her client to consider before requesting an appeals conference?

1.      : Is a 1-5 grading system by principals and master teachers a valuable part of a feedback control system for teachers? Why?

What is a partnership’s ordinary business income (loss), and how is it calculated?

What is stare decisis, and how does it relate to the Golsen rule?

Conceptually, when taxpayers receive annuity payments, how do they determine the amount of the payment they must include in gross income?

“The federal income tax scores very high on the economy criterion because the current IRS budget is relatively low compared to the costs of a typical collection agency.”  Explain why this statement may be considered wrong.

List two purposes of dressing a grinding wheel.

Why would a company wish to reduce its bond indebtedness before its bonds reach maturity? Indicate how this can be done and the correct accounting treatment for such a transaction.

For what reasons might a corporation purchase its own stock?

Under what circumstances would business income from an accounting practice qualify for the deduction for qualified business income?

Name and briefly describe the four types of chips that occur in metal cutting

Provide examples of assets that do not qualify for interest capitalization.