CA1-3 (Financial Reporting and Accounting Standards) Answer the following multiple-choice questions. 1. GAAP stands for: (d) generally accepted accounting principles. 2. Accounting standard-setters use the following process in establishing accounting standards: (d) Research‚ discussion paper‚ exposure draft‚ standard. 3. GAAP is comprised of: (d) any accounting guidance included in the FASB Codification. 4. The authoritative status of the conceptual framework is as follows. (a) It is used
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the breakeven point. 5. Cool-Aire Corporation and the probability of incurring a loss using z-values: a. P(Q < 33‚000) = P[ z < {(33‚000 − 40‚000)/4‚000}] = P( z < -1.75) = .03920‚ or about a 4% chance of a loss. b. P(Q ≥ 33‚000) = 1 − P(Q < 33‚000) = 1 − .03920 = 0.9608‚ or about a 96% chance of breakeven or better. o Chapter 10: Problems 2‚ 6‚ and 10 2. MTV operates in a highly concentrated near-monopoly market where fixed costs are low and
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the following table: Year 1 2 3 4 5 6 7 8 9 10 11 Registrations 4 6 4 5 10 8 7 9 12 14 15 a) Develop a 3 year moving average to forecast registrations from year 4 to year 12. Year 4 5 6 7 8 9 10 11 12 Forecast 4.6 5 6.3 7.6 8.3 8 9.3 11.6 13.6 b) Estimate demand again for years 4 to 12 with a 3 year weighted moving average in which registrations in the most recent years are given a weight of 2‚ and registrations in the other 2 years are each given a weight of 1. Year 4 5 6 7 8 9 10 11 12
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Assignment One: Making Decisions Based on Demand and Forecasting Jasmine Puente Econ 550 Prof. Mohammad Sumadi 05/12/213 Overview Farmington is a fairly small town located in Davis County‚ UT. The current population for this town is about 18‚275 (City Data‚ 2012). The median income per household in my city from 2000 to 2009 has ranged from an estimate of about $74‚250 to about $79‚044 for the current day. The average cost of pizza from other pizza places over the years (2000-2013) ranged
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Week 2 Assignment Topic | Answer | What factor caused movement along the supply curve in the simulation? | By decreasing the availability of the units to 28%‚ there was a surplus of 550 units available. | Please include the graph of a movement along the supply curve. Refer to our textbook please. | | What factor caused shift of the supply curve in the simulation? | The higher the price of the rental unit‚ the more the supply increased. This caused a movement along the supply line to curve
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Course Project Title: Balance Sheet and Single-Step Income Statement Objective To prepare a comprehensive balance sheet and Single-Step Income Statement presented in good form and derived from a list of various accounts. The amounts relative to each account will be given and the student will learn to determine whether an account is a balance sheet account or a temporary account that belongs to the income statement. The accounts will be comprised of all the various subgroupings in the balance
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Oil ECO/365 - Principles of Microeconomics Oil In today’s economy many trends in consumption patterns can determine where the supply and demands are needed. In the article “East Bay Oil Exports Have Become Huge Business‚” by Glantz (2012)‚ it touches on the subject of trends and consumption of oil. Many people are aware; however forget that there is a whole lot of oil around us that can be used. This paper will discuss and address the utilities derived‚ the change that demand for the product
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Written Assignment 1 MMIS 501 Written Assignment 1 covers a few topics within the first two chapters of the text. The topics related to this written assignment 1 are CPU‚ fetch-and-execute- cycle‚ High-level languages and machine languages‚ the importance of Java‚ and platform-independent language. The first question asks “What is a CPU and what role does it play in a computer?” The CPU is an acronym for Central Processing Unit. The CPU works in conjunction with the Main memory of
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Winter / November 2012 Master of Business Administration - Semester 2 MB0044 - Production and Operation Management ASSIGNMENT- Set 1 Q1. Explain the basic competitive priorities considered while formulating operations strategy by a firm? Competitiveness is at the core of all strategies. Even among them‚ priorities tend to bring the organisation’s focus on the areas to be dealt with in terms of allocation of resources – people‚ money‚ and time. This means that different functional areas with
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Assignment ( ECO 401 ) 1. Answer to part a. As the market clearing level is the quantity supplied equal to quantity demanded. Formulas Qs = 12000 + 50P Qd = 52000 - 30P Qd = Qs-----------------(1) Putting values in the above equation we get‚ 52000 - 30p = 12000 + 50p 52000 - 12000 = 30p + 50p 40000 = 80p P = 500 Clearing level of price (P) = 500 Clearing level of quantity (Q) = 52000 - 30P = 52000 - 30(500) Clearing level of quantity (Q) = 52000 - 15000
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