Controversial Business Practices Victor Gabriel Alvarez 104093 Emilio Lechuga Cuevas 119930 Introduction It’s no great secret that people who run a business are doing it in order to earn a living: pay the bills…buy supplies…offer a quality service experience…maintain a decent lifestyle…pursue future activities for the betterment of oneself. This is usually the way any business works. Today‚ however‚ powerful corporations have consolidated themselves to take control of their smaller
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1. An advantage of the corporate form of business is that: A. It has limited life. B. Its owner’s personal resources are at stake. C. Its ownership is easily transferable via the sale of shares of stock. D. It is simple to establish. E. It has double taxation. 2. External users want answers to all of the following questions except: A. Is the company earning satisfactory income? B. Will the company be able to pay its debts as they come due
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Ethical Business Practices in Purchasing and Supply Management Ethical Business Practices in Purchasing and Supply Management “The best and most successful organisations recognise that they will only prosper in the long term if they satisfy the aspirations of their stakeholders; including customers‚ suppliers‚ employees‚ local communities‚ investors‚ governments‚ public interest and environment groups. ” “To satisfy this intense scrutiny and the demands for greater accountability in society
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X 120C Intermediate Accounting Theory & Practice Winter 2013 Quiz 2 Chapter 20 Chapter 21 True-False Conceptual – 40 questions Multiple Choice Conceptual – 40 questions STUDENT NAME:__RUPALI KAYPEE_______________________________ TRUE-FALSE—Conceptual Chapter 20 1. A pension plan is contributory when the employer makes payments to a funding agency. F 2. Qualified pension plans permit deductibility
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Accounting for Merchandising Business Merchandising Operations 1. A merchandising business is engaged in buying goods and selling these at a profit. 2. The primary source of revenues is referred to as sales revenue or sales. 3. The operating cycle of a merchandising company ordinarily is longer than that of a service company. 4. Income is measured by cost of goods and operating expenses from sales revenue. * Cost of goods sold is the total cost of merchandise sold during the
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Liverpool John Moores University School of the Built Environment PROFESSIONAL AND BUSINESS PRACTICE Course Work 1 Student: E-mail: W. Wonderful WILSON wonderfulwwilson@yahoo.co.uk 28th October‚ PROFESSIONAL & BUSINESS PRACTICE PERSON ID: Table of Contents 1.0 1.1 1.2 1.3 1.4 1.5 Executive Summary............................................................................................................3 Report Objectives................................................
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Accounting for Merchandising Business A. Comparison of Income Statement Service Company Net Income = Revenues – Expenses Merchandising Company Net Sales - Cost of Goods Sold = Gross Profit/ Margin from Sales Gross Profit/ Margin from Sales – Operating Expenses = Operating Income Operating Income – Finance Costs = Net Income Sample Problem: Carlito Delights Income Statement For the Year Ended December 31‚ 2013 Net Sales P 2‚393‚250 Cost of Goods Sold 1‚313‚600 Gross Profit from Sales
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Chapter 2: The Use of Funds in Governmental Accounting Multiple Choice 1. To what does basis of accounting refer? a. whether an entity is trying to measure the excess of inflows over outflows b. how much cash an entity received in a particular reporting period c. the timing of recognition of assets‚ liabilities‚ revenues‚ and expenditures/expenses in financial statements d. the ownership of the assets‚ liabilities‚ and equities reported in a balance sheet Answer: c
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or stored foodstuffs. The abundance and effects of almost all insect pests can be managed through the judicious use of insecticides. However‚ the benefits of insecticide use are partly offset by important damages that may result. There are numerous cases of people being poisoned by accidental exposures to toxic insecticides. More commonly‚ ecological damage may be caused by the use of insecticides‚ sometimes resulting in the deaths of large numbers of wildlife. Almost all insecticides are chemicals
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Enron used multiple strategic partners to help cover up their accounting schemes. Houston law firm Vinson & Elkins’ top client was Enron. The law firm wrote opinion letters supporting the legality of the deals Enron was making even though they were illegal. Additionally‚ Arthur Andersen LLP was Enron’s auditor. More than 100 employees at Arthur Andersen were dedicated to Enron’s account. The firm was a major business partner of Enron and some Arthur Andersen executives accepted jobs with Enron. Some
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