MBA 629 Accounting and Financial Management Agenda for Class 2 June 9‚ 2006 Review of chapter 1 and questions Practice quiz questions: 1. The Melville Company sold land for $60‚000 in cash. The land was originally purchased for $40‚000‚ and at the time of the sale‚ $15‚000 was still owed to First National Bank on that purchase. After the sale‚ The Melville Company paid off the loan to First National Bank. What is the effect of the sale and the payoff of the loan on the accounting equation
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Wk 3 practice quiz #1 Accumulated depreciation will be the sum of two years of depreciation expense. Annual depreciation for this asset is ($400‚000 - $10‚000)/5 = $78‚000. The sum of two years depreciation is $156‚000 ($78‚000 + $78‚000). | | | Micah Bartlett Company purchased equipment on January 1‚ 2010‚ at a total invoice cost of $400‚000. The equipment has an estimated salvage value of $10‚000 and an estimated useful life of 5 years. The amount of accumulated depreciation at December
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Unfortunately for Eagle Company they are about to enter into a very trying period with laws changing to affect the way they do business and possibly damage their entire company. It is necessary to investigate how these changes will be viewed under the different accounting standards for these divisions of its company. When we are using IFRS to examine an impairment of Eagle’s Italy building‚ one is recognized “if‚ and only if‚ the recoverable amount of the building is less than its carrying amount
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Ch. 1 Questions 3.) How do you think the principle of uniformitarianism accounts for occasional catastrophic events such as meteorite impacts‚ huge volcanic eruptions‚ or great earthquakes? The principle of uniformitarianism states‚ “The present is the key to the past (Murck‚ B. W.‚ Skinner‚ B. J.‚ Mackenzie‚ D.‚ Visualizing Geology 2008). This means that anything that happens or will happen today‚ most likely has happened in the past. Scottish geologist James Hutton’s observation is that the physical
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Axia College HSM 220 November 20‚ 2012 The top 10 characteristics of a knowledge and value based manager are: 1. Vision- knowledge centered 2. Ability to motivate- value centered 3. Efficiency- knowledge centered 4. Organization- knowledge centered 5. Control- knowledge centered 6. Ability to plan- knowledge centered 7. Positive attitude- value centered 8. Trust- value centered 9. Respect- value centered 10. Persistance- value centered All of these
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Nutrition and Health Worksheet 1. What is nutrition? Why is nutrition essential to our daily lives? | Nutrition is defined “as the science that links foods to health and disease. “ Nutrition is also called nourishment that provides food for support of life. Nutrition involves the process of humans ingesting‚ digesting‚ absorbing‚ and excreting food substances.Food provides energy in the form of calories needed to maintain all body cells. Nutrients are the substances obtained from food that
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Part 1 of 1 - 10.0 Points Question 1 of 10 1.0 Points The first developmental task of young adults is to Correct A.form an initial adult identity. B.establish independence C.assume responsibility D.develop social skills Answer Key: A Question 2 of 10 1.0 Points Of the following‚ the most important developmental task of middle age is to: A.achieve intimacy B.develop social skills C.achieve independence Correct D.reassess one’s life goals Answer Key: D Question 3 of 10 1.0 Points
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McGuigan Chapter 1—Introduction and Goals of the Firm Only for this spring quarter 2013‚ quiz purposes MULTIPLE CHOICE 1. The form of economics most relevant to managerial decision-making within the firm is: a.|macroeconomics| b.|welfare economics| c.|free-enterprise economics| d.|microeconomics| e.|none of the above| 2. If one defines incremental cost as the change in total cost resulting from a decision‚ and incremental revenue as the change in total revenue resulting from
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Chapter 1 1- Why are financial markets important to the health of the economy? Because they channel funds from those who do not have a productive use for them to those who do‚ thereby resulting in higher economic efficiency. 2- When interest rates rise‚ how might businesses and consumers change their economic behavior? Businesses would cut investment spending because the cost of financing this spending is now higher‚ and consumers would be less likely to purchase a house or a car because the
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evidence gathering‚ void of professional judgment. From the point of view of both the profession and the users of auditing services‚ there is probably a greater harm from defining authoritative guidelines too specifically than too broadly. 2-16 a. (1) b. (2) c. (3) d. (3) 2-20 a. Rossi and Montgomery’s primary ethical consideration is their professional competence to perform all of the audit work for filing with the SEC. In addition‚ if Rossi and Montgomery have performed bookkeeping services
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