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A city ordinance provides that no money shall be spent for any purpose without the prior approval of the city council. In approving the budget for the year the council had authorized spending $ 1,300,000 for road maintenance. Late in the year after the city had spent virtually the entire $ 1,300,000, a major storm washed out portions of several roads leading to the elementary school. The school was inaccessible and the mayor wanted to enter into an emergency contract to repair the roads. City engineers estimated that the cost of the repairs would be about $ 350,000. If the city entered into such a contract, the total amount spent on road maintenance for the year would be greater than the amount authorized. Recognizing the need for prompt action the mayor immediately entered into the contract without seeking prior city council approval. Comment on the legal financial and accounting systems implications of this scenario.
Last year, the House of Orange had sales of $826,650, net operating income of $81,000, and operating assets of $84,000 at the beginning of the year and $90,000 at the end of the year. What was the company's turnover rounded to the nearest tenth?
is there a difference between direct and indirect methods to make a statement of cash flows? discuss and note two or
fred needs to start saving for retirement. he estimates he will work another 20 years during which time his savings
Wayne's steaks inc. has a 9%, non callable,$100-par-value preferred stock issued outstanding.On january 1,the market price per share is $73.dividends are paid annualy on december31. if you require a 12% annual return on this investment, what is th..
during its assessment of the accounts payable department the internal audit function identified the following
Based on the information you researched, assess the failure of the firm's accounting information system to prevent the related fraud / embezzlement.
paschals parasailing enterprises has estimated that fixed costs per month are 115600 and variable cost per dollar of
jeremy an american citizen earned 200000 during 2011 while employed in saudi arabia. jeremy is entitled to the maximum
Earlier we discussed issues with looking at only a single measure to assess job-related results. Looking back at the data examples you have provided in the previous discussion questions on this issue, how might adding confidence intervals help ma..
corporation uses the weighted-average method in its process costing. the following data concern the companys assembly
However Capital=Assets minus liabilities
1 which of the following statements is true a process costing is ordinarily applied where all the operations are
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