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1) What is the difference between two types of line-item budgeting approaches: incremental budgeting and zero-based budgeting? Which of the two approaches is more widely used by governments? Which do you think is more beneficial in developing realistic budgets?
2) "The sole objective of budgeting in a governmental entity is to demonstrate compliance with appropriation legislation." Do you agree or disagree? Explain.
Should you over pay taxes throughout the year and get a refund, knowing the government does not pay interest on the overpayment? Use time value of money to explain.
Compute the total amount of dividends that was paid to each class of stock, b) Compute the amount of dividends per share for each class of stock.
The Houston Company has the following entries to be made for 12/31/06. Assume all depreciation is current as of the end of 2005. Prepare all journal entries, including depreciation for 2006 as needed. Use Straight Line Depreciation, unless otherwi..
Describe how investors report investments in equity securities when investor has controlling influence over an investee. (US GAAP)
Prepare journal entries for investments using the fair value and the equity method. How does it relate to the practice of accounting and its uses in business?
Blocker, Inc. had $10,000 of notes coming due on January 10, 2011- how much of the $10,000 note should be shown as current?
Distinguish between a debt security and an equity security.
Prepare all journal entries in all funds and the GCA and GLTL accounts to record the following transactions and events.
What is possible "consequence" of using the allowance method rather than the direct write-off method? The method fits the matching principle, is GAAP, the SEC likes it better, sounds better for investors, what could be bad?
You're an IT auditor working for $15 million sales per year speciality chocolate candy manufacturer. The company is planning to engage in e-commerce over Internet. What would be your five biggest concerns regarding risk and why?
What is the purpose of GAAP and management accounting? There is a very important distinction that we need to keep in mind when discussing accounting because... they are not the same
Axel Corporation acquires 100% of the stock of Wheal Company on December 31, Year 4. The following information pertains to Wheal Company on the date of acquisition:
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