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1) Explain situations where the opposite could be true In normative theory. For example: our personal experiences, educational levels, cultures, religions, and other aspects of our background can actually enrich our decision making ability.
2) Why does it appear that to be highly successful (particularly in a financial sense), we assume that the gains are achieved unethically?
3) Would you cite examples of how (or when) positive and normative theory are used together? What is the benefit of using both?
4) Which theory do you feel is more prevalent in today's business or political world and why?
Prepare example journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the percentage of receivables methods.
An employee received a paycheck from her employer in the amount of $776.35. The pay-check stub indicated that in calculating her $776.35 net pay, $139.75 had been withheld for federal income tax, $34.25 for state income tax, and $74. 65 for FICA. ..
Chris White was a forestry technician who had been searching for several years for a business opportunity to combine with his forestry career
Write a memo to your partner covering all of the following: Write a description of the difference between product and period costs and examples of each. Explain how the financial results of a business would be reported differently if costs were not..
The town of Seaside has decided to construct a new sea aquarium to attract tourist. The cost of the measure is to be paid by a special tax. Although most of the townspeople believe the sea aquarium is a good idea, there is disagreement about how t..
A company previously issued $2,000,000, 10% bonds, receiving a $120,000 premium. On the current year's interest date, after the bond interest was paid and after 40% of the total premium had been amortized, the company purchased the entire bond iss..
LaGrange Corp. has forecasted that over the next four years the average annual after-tax income will be $45,731. The average book value of the manufacturing equipment that is used is $167,095. What is the accounting rate of return?
A business paid 100 to cash to Karen Smith (the owner of the business) for her personal use. Set up the necessary T accounts and show how this transaction would be recorded directly to those accounts
Prepare an overview of government accounting for a business person, using the State of Georgia as an example. Describe the entity and evaluate the Management Discussion & Analysis (MD&A) section.
Sydney Corporation, an Australian-based multinational, borrowed 10,000,000 euros from a German lender at the beginning of calendar year when exchange rate was EUR.60 = AUD1.
Prepare the appropriate journal entry to be made by Bayfield Company for the first lease payment. Prepare the journal entry to record the lease agreement on the books of Josh inc. on January 1, 2008
August 31 falls on a Thursday. On Friday, September 1, the part-time employee John J. Jones was paid $250 or $50 per day for a five-day work week which ended that Friday.
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